NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Lessened by Legacy Private Trust Co.

Legacy Private Trust Co. decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 307,447 shares of the computer hardware maker’s stock after selling 17,965 shares during the period. NVIDIA accounts for approximately 2.5% of Legacy Private Trust Co.’s holdings, making the stock its 7th biggest holding. Legacy Private Trust Co.’s holdings in NVIDIA were worth $37,336,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp grew its position in NVIDIA by 854.1% in the 2nd 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 acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. increased its stake in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in NVIDIA by 808.6% during the 2nd 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 during the period. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Raymond James boosted their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. UBS Group reaffirmed a “buy” rating and set a $150.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Sanford C. Bernstein raised their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Price Performance

NASDAQ:NVDA opened at $147.63 on Friday. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The stock has a market cap of $3.62 trillion, a PE ratio of 69.25, a P/E/G ratio of 1.54 and a beta of 1.66. The stock has a 50 day moving average price of $127.27 and a 200 day moving average price of $117.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 net margin of 55.04% and a return on equity of 113.50%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS. Equities research analysts expect that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

NVIDIA declared that its Board of Directors has approved a share 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 buy up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was 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 directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by corporate 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.