Orrstown Financial Services Inc. Has $2.85 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Orrstown Financial Services Inc. reduced its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 18.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,249 shares of the computer hardware maker's stock after selling 6,113 shares during the period. NVIDIA makes up about 0.7% of Orrstown Financial Services Inc.'s investment portfolio, making the stock its 17th biggest holding. Orrstown Financial Services Inc.'s holdings in NVIDIA were worth $2,845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC increased its holdings in NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after acquiring an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter valued at about $43,515,504,000. Finally, Northern Trust Corp grew its stake in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 30,500 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $144.21, for a total transaction of $4,398,405.00. Following the transaction, the chief financial officer now directly owns 3,012,166 shares in the company, valued at $434,384,458.86. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert K. Burgess sold 50,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the transaction, the director now owns 201,044 shares in the company, valued at $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,228,433 shares of company stock valued at $459,710,171 in the last three months. 4.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NVDA shares. Tigress Financial restated a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. William Blair reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Piper Sandler reiterated an "overweight" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Needham & Company LLC restated a "buy" rating and issued a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $173.05.

NVIDIA Stock Up 0.2%

NVDA traded up $0.32 during trading on Monday, hitting $144.17. The company had a trading volume of 151,059,400 shares, compared to its average volume of 271,774,770. The company has a market capitalization of $3.52 trillion, a PE ratio of 46.51, a PEG ratio of 1.27 and a beta of 2.12. NVIDIA Corporation has a one year low of $86.62 and a one year high of $153.13. The firm's 50-day moving average price is $126.37 and its 200 day moving average price is $126.43. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the firm earned $0.61 earnings per share. The company's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

NVIDIA 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.