Centennial Bank AR Acquires 904 Shares of NVIDIA Co. (NASDAQ:NVDA)

Centennial Bank AR raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,205.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 979 shares of the computer hardware maker’s stock after acquiring an additional 904 shares during the period. Centennial Bank AR’s holdings in NVIDIA were worth $121,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NVDA. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the first quarter valued at about $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the first quarter worth about $30,000. TCTC Holdings LLC acquired a new position in shares of NVIDIA in the first quarter valued at approximately $82,000. Finally, Slocum Gordon & Co LLP bought a new position in NVIDIA in the 1st quarter valued at approximately $98,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research reports. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Monday, August 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their target price on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. increased their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Stock Up 2.0 %

Shares of NASDAQ NVDA opened at $135.40 on Friday. 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 Co. has a 1 year low of $42.89 and a 1 year high of $144.42. The stock has a market capitalization of $3.32 trillion, a P/E ratio of 63.57, a P/E/G ratio of 1.40 and a beta of 1.66. The company has a 50-day moving average price of $125.25 and a 200-day moving average price of $116.01.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. On average, equities research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA declared that its Board of Directors has authorized a share buyback program 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,516,270 shares of company stock valued at $291,803,127 in the last three months. 4.23% of the stock is currently owned by insiders.

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.