Farmers Trust Co. Has $865,000 Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Farmers Trust Co. trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,125 shares of the computer hardware maker’s stock after selling 1,165 shares during the quarter. Farmers Trust Co.’s holdings in NVIDIA were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. increased its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the 1st quarter valued at approximately $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA during the second quarter worth $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA in the first quarter worth about $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total value of $12,462,000.00. Following the transaction, the chief executive officer now directly owns 76,854,995 shares in the company, valued at $7,981,391,230.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the transaction, the chief executive officer now owns 76,854,995 shares of the company’s stock, valued at $7,981,391,230.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,396,270 shares of company stock worth $279,825,927 in the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 0.5 %

Shares of NASDAQ:NVDA opened at $136.05 on Tuesday. NVIDIA Co. has a 12-month low of $44.90 and a 12-month high of $144.42. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.34 trillion, a P/E ratio of 63.87, a P/E/G ratio of 1.40 and a beta of 1.66. The business has a fifty day simple moving average of $125.45 and a 200 day simple moving average of $116.60.

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

NVIDIA declared that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on NVDA shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Evercore ISI increased their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five research 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.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $143.07.

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.