NVIDIA Corporation $NVDA Holdings Lifted by Grove Bank & Trust

Grove Bank & Trust boosted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 12.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 108,098 shares of the computer hardware maker’s stock after buying an additional 12,138 shares during the period. NVIDIA makes up approximately 2.4% of Grove Bank & Trust’s investment portfolio, making the stock its 8th largest position. Grove Bank & Trust’s holdings in NVIDIA were worth $20,169,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its position in NVIDIA by 1.0% during the second quarter. State Street Corp now owns 978,208,862 shares of the computer hardware maker’s stock valued at $154,556,803,000 after purchasing an additional 9,554,857 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker’s stock valued at $91,150,170,000 after buying an additional 8,521,936 shares during the period. Kingstone Capital Partners Texas LLC grew its holdings in shares of NVIDIA by 267,959.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock valued at $64,976,521,000 after acquiring an additional 382,231,120 shares in the last quarter. Norges Bank acquired a new position in shares of NVIDIA in the second quarter worth $51,386,863,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of NVIDIA by 2.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,794,926 shares of the computer hardware maker’s stock worth $22,412,434,000 after acquiring an additional 5,896,735 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Up 1.9%

NASDAQ:NVDA opened at $174.14 on Friday. The company’s 50 day moving average is $185.63 and its 200-day moving average is $174.62. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $212.19. The firm has a market cap of $4.23 trillion, a price-to-earnings ratio of 43.21, a P/E/G ratio of 0.84 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. The business had revenue of $57.01 billion for the quarter, compared to analyst estimates of $54.66 billion. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. NVIDIA’s revenue was up 62.5% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s payout ratio is presently 0.99%.

Insiders Place Their Bets

In other news, Director Harvey C. Jones sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $177.33, for a total transaction of $44,332,500.00. Following the completion of the transaction, the director directly owned 6,933,280 shares in the company, valued at $1,229,478,542.40. The trade was a 3.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 350,000 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $181.73, for a total value of $63,605,500.00. Following the completion of the sale, the director directly owned 7,049,803 shares of the company’s stock, valued at $1,281,160,699.19. This represents a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,163,974 shares of company stock worth $396,087,917 over the last quarter. 4.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NVIDIA in a research report on Monday. Truist Financial boosted their price target on NVIDIA from $228.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. CICC Research raised their price objective on shares of NVIDIA from $200.00 to $228.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Loop Capital lifted their target price on shares of NVIDIA from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Hsbc Global Res upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $261.67.

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.