Peoples Bank OH Decreases Stake in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Peoples Bank OH decreased its stake in NVIDIA Corporation by 45.0% in the 1st quarter, leaving them with 9,112 shares valued at approximately $988,000.
• CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock for a total of $11.44 million, while EVP Ajay K. Puri sold 168,195 shares valued at $25.67 million on the same day.
• NVIDIA reported a quarterly revenue of $44.06 billion, exceeding expectations, despite an EPS miss of $0.81 compared to the consensus estimate of $0.87.

Peoples Bank OH reduced its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 45.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,112 shares of the computer hardware maker's stock after selling 7,452 shares during the quarter. Peoples Bank OH's holdings in NVIDIA were worth $988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tacita Capital Inc acquired a new position in NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the 4th quarter worth approximately $38,000. Copia Wealth Management acquired a new position in NVIDIA in the 4th quarter worth approximately $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in NVIDIA in the 1st quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC increased its holdings in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,489,800 shares of company stock worth $826,553,003. 4.17% of the stock is owned by company insiders.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $178.26 on Wednesday. The business's 50-day simple moving average is $157.13 and its 200-day simple moving average is $132.90. 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 Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The firm has a market cap of $4.35 trillion, a price-to-earnings ratio of 57.50, a P/E/G ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its 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 company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 EPS. As a group, equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA's payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. TD Cowen increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Mizuho set a $192.00 price objective on shares of NVIDIA and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Finally, Raymond James Financial raised their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $182.03.

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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