NVIDIA Corporation (NASDAQ:NVDA) is WASHINGTON TRUST Co's 9th Largest Position

WASHINGTON TRUST Co trimmed its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 609,542 shares of the computer hardware maker's stock after selling 31,207 shares during the period. NVIDIA makes up about 2.5% of WASHINGTON TRUST Co's investment portfolio, making the stock its 9th largest holding. WASHINGTON TRUST Co's holdings in NVIDIA were worth $66,062,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Centerpoint Advisory Group boosted its position in NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after purchasing an additional 943 shares during the last quarter. GSB Wealth Management LLC boosted its position in NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after purchasing an additional 1,043 shares during the last quarter. Variant Private Wealth LLC lifted its position in shares of NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after buying an additional 3,206 shares in the last quarter. Financial Perspectives Inc lifted its position in shares of NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after buying an additional 1,265 shares in the last quarter. Finally, Hickory Point Bank & Trust purchased a new position in shares of NVIDIA during the 4th quarter valued at about $2,272,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 27,650 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares of the company's stock, valued at approximately $510,023,939.24. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director A Brooke Seawell sold 48,792 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the sale, the director directly owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,114,800 shares of company stock valued at $760,553,003 in the last ninety days. Insiders own 4.17% of the company's stock.

NVIDIA Stock Down 0.1%

NVDA traded down $0.24 on Friday, hitting $173.50. 121,814,931 shares of the company were exchanged, compared to its average volume of 162,110,176. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $174.72. The company has a market cap of $4.23 trillion, a price-to-earnings ratio of 55.97, a price-to-earnings-growth ratio of 1.53 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $150.95 and a two-hundred day moving average price of $130.86.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the topic of several analyst reports. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Truist Financial boosted their price target on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. The Goldman Sachs Group assumed coverage on NVIDIA in a report on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price for the company. Finally, Oppenheimer increased their price objective on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $181.22.

About NVIDIA

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.