NVIDIA Corporation $NVDA Shares Bought by Independence Bank of Kentucky

Key Points

• Independence Bank of Kentucky increased its holdings in NVIDIA Corporation by 2.2% during the second quarter, owning 131,138 shares valued at approximately $20.7 million.
• Several analysts have rated NVIDIA positively, with a consensus price target of $212.84 and multiple firms issuing "buy" ratings.
• NVIDIA reported a 55.6% year-over-year increase in revenue, achieving $46.74 billion for the last quarter and exceeding analyst estimates.

Independence Bank of Kentucky lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,138 shares of the computer hardware maker's stock after buying an additional 2,832 shares during the quarter. NVIDIA comprises 2.9% of Independence Bank of Kentucky's holdings, making the stock its 5th biggest position. Independence Bank of Kentucky's holdings in NVIDIA were worth $20,718,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NVDA. Pachira Investments Inc. lifted its stake in shares of NVIDIA by 1.0% in the second quarter. Pachira Investments Inc. now owns 6,450 shares of the computer hardware maker's stock worth $1,019,000 after acquiring an additional 63 shares during the period. HFG Wealth Management LLC lifted its stake in shares of NVIDIA by 3.4% in the second quarter. HFG Wealth Management LLC now owns 2,075 shares of the computer hardware maker's stock worth $328,000 after acquiring an additional 68 shares during the period. Hidden Cove Wealth Management LLC lifted its stake in shares of NVIDIA by 0.3% in the second quarter. Hidden Cove Wealth Management LLC now owns 23,778 shares of the computer hardware maker's stock worth $3,757,000 after acquiring an additional 69 shares during the period. Burkett Financial Services LLC lifted its stake in NVIDIA by 1.3% in the second quarter. Burkett Financial Services LLC now owns 5,450 shares of the computer hardware maker's stock valued at $861,000 after buying an additional 70 shares during the period. Finally, Guided Capital Wealth Management LLC lifted its stake in NVIDIA by 0.3% in the second quarter. Guided Capital Wealth Management LLC now owns 27,858 shares of the computer hardware maker's stock valued at $4,401,000 after buying an additional 70 shares during the period. Institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Mizuho boosted their price target on NVIDIA from $192.00 to $205.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. Weiss Ratings reissued a "buy (b)" rating on shares of NVIDIA in a research note on Wednesday, October 8th. UBS Group reissued a "buy" rating on shares of NVIDIA in a research note on Tuesday, September 23rd. Wedbush reissued an "outperform" rating and issued a $210.00 price target on shares of NVIDIA in a research note on Thursday, August 28th. Finally, Citigroup reissued a "buy" rating and issued a $210.00 price target (up from $200.00) on shares of NVIDIA in a research note on Tuesday, September 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.84.

NVIDIA Trading Down 4.9%

NASDAQ NVDA opened at $183.16 on Monday. The company has a market cap of $4.45 trillion, a price-to-earnings ratio of 52.18, a P/E/G ratio of 1.32 and a beta of 2.12. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $195.62. The business has a 50 day moving average price of $179.16 and a 200-day moving average price of $151.02. The company has a quick ratio of 3.60, a current ratio of 4.21 and a debt-to-equity ratio of 0.08.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.04. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The business had revenue of $46.74 billion during the quarter, compared to the consensus estimate of $45.65 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. NVIDIA's revenue was up 55.6% compared to the same quarter last year. NVIDIA has set its Q3 2026 guidance at EPS. As a group, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Thursday, September 11th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, September 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's dividend payout ratio is 1.14%.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Friday, October 10th. The stock was sold at an average price of $190.20, for a total transaction of $14,265,000.00. Following the completion of the sale, the chief executive officer owned 70,558,203 shares in the company, valued at approximately $13,420,170,210.60. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 30,500 shares of the company's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $176.40, for a total value of $5,380,200.00. Following the sale, the chief financial officer owned 2,883,402 shares of the company's stock, valued at $508,632,112.80. This trade represents a 1.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,801,587 shares of company stock valued at $673,950,484 in the last quarter. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.