Greenfield Savings Bank Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Greenfield Savings Bank boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,406 shares of the computer hardware maker’s stock after buying an additional 1,541 shares during the quarter. NVIDIA makes up about 2.1% of Greenfield Savings Bank’s investment portfolio, making the stock its 8th largest holding. Greenfield Savings Bank’s holdings in NVIDIA were worth $4,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVDA. Privium Fund Management UK Ltd bought a new position in NVIDIA in the 1st quarter worth $2,635,000. Lifestyle Asset Management Inc. grew its holdings in NVIDIA by 246.9% during the first quarter. Lifestyle Asset Management Inc. now owns 2,005 shares of the computer hardware maker’s stock valued at $1,812,000 after purchasing an additional 1,427 shares during the period. OMNI 360 Wealth Inc. increased its position in NVIDIA by 6.0% in the first quarter. OMNI 360 Wealth Inc. now owns 513 shares of the computer hardware maker’s stock worth $464,000 after buying an additional 29 shares in the last quarter. JTC Employer Solutions Trustee Ltd raised its stake in shares of NVIDIA by 1.0% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 14,897 shares of the computer hardware maker’s stock worth $13,453,000 after buying an additional 150 shares during the period. Finally, Trust Co. of Oklahoma raised its stake in shares of NVIDIA by 2.7% in the first quarter. Trust Co. of Oklahoma now owns 1,105 shares of the computer hardware maker’s stock worth $998,000 after buying an additional 29 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at $9,105,199,254.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on 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 transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Up 2.2 %

NASDAQ:NVDA opened at $148.88 on Friday. The company has a market cap of $3.65 trillion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $148.93. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $126.08 and a 200-day simple moving average of $117.25.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. Analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Needham & Company LLC upped their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price objective on shares of NVIDIA in a research note on Thursday, October 10th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.07.

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.