NVIDIA Co. (NASDAQ:NVDA) is Riverview Trust Co’s 7th Largest Position

Riverview Trust Co grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.8% during the third quarter, HoldingsChannel reports. The firm owned 18,235 shares of the computer hardware maker’s stock after purchasing an additional 145 shares during the quarter. NVIDIA comprises approximately 1.9% of Riverview Trust Co’s portfolio, making the stock its 7th biggest holding. Riverview Trust Co’s holdings in NVIDIA were worth $2,214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in NVIDIA in the 1st quarter valued at approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the transaction, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research analyst reports. Piper Sandler lifted their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Raymond James boosted their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday. DA Davidson increased their price target on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday. Finally, UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $141.95 on Monday. The company’s fifty day simple moving average is $134.01 and its two-hundred day simple moving average is $122.51. The firm has a market cap of $3.48 trillion, a PE ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA announced that its board has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

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.