Somerset Trust Co Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Somerset Trust Co raised its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 32.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,429 shares of the computer hardware maker's stock after purchasing an additional 1,801 shares during the quarter. Somerset Trust Co's holdings in NVIDIA were worth $805,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tacita Capital Inc purchased a new position in shares of NVIDIA in the fourth quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA during the fourth quarter valued at approximately $40,000. Copia Wealth Management purchased a new position in NVIDIA during the fourth quarter valued at approximately $50,000. Finally, LSV Asset Management purchased a new position in NVIDIA during the fourth quarter valued at approximately $54,000. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director now owns 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,560,845 shares of company stock valued at $360,351,849 over the last three months. 4.17% of the stock is owned by company insiders.

NVIDIA Trading Down 2.1%

Shares of NVDA traded down $3.03 during trading hours on Friday, reaching $141.97. 180,270,368 shares of the company traded hands, compared to its average volume of 276,376,708. The firm has a market cap of $3.46 trillion, a price-to-earnings ratio of 55.87, a PEG ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock's fifty day moving average price is $122.77 and its 200 day moving average price is $126.44.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. Sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Mizuho lifted their price target on shares of NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $172.24.

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.