NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 884.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 327,338 shares of the computer hardware maker’s stock after purchasing an additional 294,101 shares during the period. NVIDIA comprises approximately 1.3% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 18th largest position. Stock Yards Bank & Trust Co.’s holdings in NVIDIA were worth $40,439,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of NVIDIA by 696.6% during the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after buying an additional 71,757,065 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $113.54, for a total value of $13,624,800.00. Following the sale, the chief executive officer now owns 77,814,995 shares of the company’s stock, valued at approximately $8,835,114,532.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $113.54, for a total transaction of $13,624,800.00. Following the sale, the chief executive officer now directly owns 77,814,995 shares in the company, valued at $8,835,114,532.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,876,270 shares of company stock valued at $333,061,527 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NVDA. Bank of America increased their target price on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Jefferies Financial Group boosted their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday, June 24th. Citigroup raised their price target on NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Evercore ISI boosted their price objective on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Stock Performance

NVDA opened at $138.00 on Monday. The stock’s 50 day simple moving average is $121.88 and its 200 day simple moving average is $112.51. The stock has a market cap of $3.39 trillion, a P/E ratio of 64.73, a P/E/G ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter last year, the business posted $0.25 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

NVIDIA 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.