Wesbanco Bank Inc. raised its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 37.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 355,932 shares of the computer hardware maker's stock after buying an additional 96,241 shares during the period. NVIDIA makes up approximately 1.3% of Wesbanco Bank Inc.'s holdings, making the stock its 13th largest holding. Wesbanco Bank Inc.'s holdings in NVIDIA were worth $38,576,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Outlook Wealth Advisors LLC increased its stake in shares of NVIDIA by 0.3% during the 1st quarter. Outlook Wealth Advisors LLC now owns 58,458 shares of the computer hardware maker's stock worth $6,336,000 after purchasing an additional 164 shares in the last quarter. McDonough Capital Management Inc increased its stake in shares of NVIDIA by 10.9% during the 1st quarter. McDonough Capital Management Inc now owns 96,193 shares of the computer hardware maker's stock worth $10,425,000 after purchasing an additional 9,457 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of NVIDIA by 8.8% during the 1st quarter. First Citizens Bank & Trust Co. now owns 508,924 shares of the computer hardware maker's stock worth $55,157,000 after purchasing an additional 41,277 shares in the last quarter. Sherman Asset Management Inc. increased its stake in shares of NVIDIA by 10.8% during the 1st quarter. Sherman Asset Management Inc. now owns 7,701 shares of the computer hardware maker's stock worth $835,000 after purchasing an additional 748 shares in the last quarter. Finally, Priebe Wealth Holdings LLC increased its stake in shares of NVIDIA by 8.3% during the 1st quarter. Priebe Wealth Holdings LLC now owns 7,032 shares of the computer hardware maker's stock worth $762,000 after purchasing an additional 541 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at NVIDIA
In related news, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction on Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the transaction, the director now owns 201,044 shares in the company, valued at approximately $27,104,752.08. The trade was a 19.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director now directly owns 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,469,685 shares of company stock worth $349,669,962. 4.17% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the stock. DA Davidson raised their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Benchmark reissued a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.05.
Check Out Our Latest Stock Analysis on NVDA
NVIDIA Stock Down 1.1%
Shares of NVDA opened at $143.83 on Friday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.51 trillion, a PE ratio of 46.40, a price-to-earnings-growth ratio of 1.27 and a beta of 2.12. The company's fifty day moving average is $126.37 and its two-hundred day moving average is $126.56. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. Analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's payout ratio is 1.29%.
About NVIDIA
(
Free Report)
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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