Orrstown Financial Services Inc. Decreases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Orrstown Financial Services Inc. lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 18.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 largest position. Orrstown Financial Services Inc.'s holdings in NVIDIA were worth $2,845,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wealth Group Ltd. grew its position in shares of NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after buying an additional 100 shares in the last quarter. Tallon Kerry Patrick acquired a new stake in NVIDIA in the fourth quarter valued at $972,000. Capital & Planning LLC boosted its stake in NVIDIA by 16.9% during the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after acquiring an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. grew its holdings in NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock worth $871,000 after acquiring an additional 104 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after acquiring an additional 35,815 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James Financial raised their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Rosenblatt Securities increased their price target on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $173.05.

Insider Buying and Selling at NVIDIA

In other news, Director Robert K. Burgess sold 50,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares of the company's stock, valued at approximately $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 125,836 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $137.79, for a total transaction of $17,338,942.44. Following the transaction, the director now owns 10,149,697 shares of the company's stock, valued at approximately $1,398,526,749.63. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,469,685 shares of company stock worth $349,669,962 over the last 90 days. Insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

NVDA stock opened at $145.48 on Friday. The firm has a 50 day simple moving average of $125.72 and a 200 day simple moving average of $126.66. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $153.13. The stock has a market cap of $3.55 trillion, a P/E ratio of 46.93, a P/E/G ratio of 1.28 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. Research analysts anticipate 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 will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date 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 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.

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