First PREMIER Bank Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

First PREMIER Bank boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 18,490 shares of the computer hardware maker’s stock after acquiring an additional 1,290 shares during the quarter. First PREMIER Bank’s holdings in NVIDIA were worth $2,245,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. lifted its position in NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after acquiring an additional 107,169 shares during the period. Truepoint Inc. lifted its holdings in shares of NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after buying an additional 208,362 shares during the period. Legal & General Group Plc lifted its holdings in shares of NVIDIA by 884.0% in the 2nd 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 buying an additional 191,469,114 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd lifted its holdings in shares of NVIDIA by 1,106.0% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after buying an additional 488,148 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. DA Davidson reissued a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. Robert W. Baird boosted their price objective on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, UBS Group reaffirmed a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. Five equities research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Price Performance

NVDA stock opened at $147.63 on Friday. The business has a fifty day moving average of $127.27 and a two-hundred day moving average of $117.94. 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 stock has a market cap of $3.62 trillion, a price-to-earnings ratio of 69.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, research analysts anticipate that NVIDIA Co. will post 2.66 earnings per share for the current 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 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 has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction 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 directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade 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 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. Company insiders own 4.23% of the company’s stock.

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.