Stock Yards Bank & Trust Co. Raises Stake in NVIDIA Corporation (NASDAQ:NVDA)

Stock Yards Bank & Trust Co. lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 393,000 shares of the computer hardware maker's stock after purchasing an additional 30,609 shares during the quarter. NVIDIA comprises approximately 1.5% of Stock Yards Bank & Trust Co.'s holdings, making the stock its 18th largest holding. Stock Yards Bank & Trust Co.'s holdings in NVIDIA were worth $42,593,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NVDA. Tacita Capital Inc purchased a new position in NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the 4th quarter worth approximately $38,000. Copia Wealth Management purchased a new position in NVIDIA in the 4th quarter worth approximately $50,000. Bruce G. Allen Investments LLC boosted 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 acquiring an additional 327 shares during the period. Finally, LSV Asset Management purchased a new position in NVIDIA in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Oppenheimer restated an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a report on Monday, June 16th. Wedbush restated an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, DA Davidson upped their price target on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and a consensus price target of $175.78.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $157.75 on Friday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $158.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The business's fifty day moving average price is $130.96 and its two-hundred day moving average price is $126.97. The firm has a market capitalization of $3.85 trillion, a PE ratio of 50.89, a P/E/G ratio of 1.40 and a beta of 2.12.

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 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 company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the business earned $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. On average, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer now directly owns 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 50,000 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total value of $6,741,000.00. Following the transaction, the director now directly owns 201,044 shares in the company, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,792,267 shares of company stock valued at $544,823,117 over the last three months. Company insiders own 4.17% of the company's stock.

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.

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