United Community Bank Has $2.13 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• United Community Bank increased its ownership in NVIDIA Corporation by 39.8%, holding 19,616 shares valued at approximately $2.13 million as of the latest SEC filing.
• NVIDIA's recent quarterly earnings showed a revenue of $44.06 billion, surpassing estimates, but its EPS of $0.81 fell short of the expected $0.87.
• Analysts generally maintain a positive outlook on NVIDIA, with an average rating of "Moderate Buy" and a price target increase, reflecting strong institutional interest in the company.

United Community Bank lifted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 39.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,616 shares of the computer hardware maker's stock after acquiring an additional 5,588 shares during the period. NVIDIA makes up approximately 0.8% of United Community Bank's holdings, making the stock its 26th biggest holding. United Community Bank's holdings in NVIDIA were worth $2,126,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its stake 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 purchasing an additional 35,815 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in NVIDIA by 1.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock worth $315,100,000 after purchasing an additional 22,929 shares in the last quarter. Highview Capital Management LLC DE increased its stake in NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock worth $7,842,000 after purchasing an additional 3,653 shares in the last quarter. Hudson Value Partners LLC grew its stake in shares of NVIDIA by 30.7% during the 4th quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock worth $6,805,000 after acquiring an additional 11,900 shares in the last quarter. Finally, Oak Hill Wealth Advisors LLC grew its stake in shares of NVIDIA by 194.1% during the 4th quarter. Oak Hill Wealth Advisors LLC now owns 15,206 shares of the computer hardware maker's stock worth $2,042,000 after acquiring an additional 31,372 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. BNP Paribas raised shares of NVIDIA to a "hold" rating in a research note on Friday, August 1st. Finally, Citigroup raised their price target on shares of NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average price target of $183.75.

NVIDIA Stock Up 1.1%

NVDA stock opened at $182.67 on Monday. The company has a market cap of $4.46 trillion, a PE ratio of 58.93, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. The business has a 50-day simple moving average of $159.82 and a 200 day simple moving average of $133.62. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.88. 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 posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the firm earned $0.61 EPS. The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,687,440 shares of company stock worth $862,095,782. Insiders own 4.17% of the company's stock.

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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