NVIDIA Co. (NASDAQ:NVDA) is Webster Bank N. A.’s 4th Largest Position

Webster Bank N. A. decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 14.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 270,094 shares of the computer hardware maker’s stock after selling 47,227 shares during the quarter. NVIDIA comprises 3.5% of Webster Bank N. A.’s investment portfolio, making the stock its 4th largest holding. Webster Bank N. A.’s holdings in NVIDIA were worth $32,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its holdings in NVIDIA by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after purchasing an additional 13,135 shares during the last quarter. Gilbert & Cook Inc. boosted its holdings in shares of NVIDIA by 0.6% during the 1st quarter. Gilbert & Cook Inc. now owns 7,933 shares of the computer hardware maker’s stock worth $7,168,000 after buying an additional 45 shares during the period. Quent Capital LLC grew its stake in NVIDIA by 3.2% in the 1st quarter. Quent Capital LLC now owns 14,446 shares of the computer hardware maker’s stock valued at $13,053,000 after buying an additional 454 shares during the last quarter. Haverford Trust Co lifted its position in NVIDIA by 25.1% during the 1st quarter. Haverford Trust Co now owns 5,441 shares of the computer hardware maker’s stock worth $4,916,000 after acquiring an additional 1,091 shares during the last quarter. Finally, Graypoint LLC boosted its holdings in NVIDIA by 1.6% during the first quarter. Graypoint LLC now owns 44,714 shares of the computer hardware maker’s stock valued at $40,402,000 after acquiring an additional 684 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $141.98 on Friday. The firm has a 50 day simple moving average of $130.18 and a 200 day simple moving average of $119.70. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market cap of $3.48 trillion, a P/E ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results 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 business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Sell-side analysts predict that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

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

NVIDIA Cuts Dividend

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

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price objective on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Craig Hallum boosted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Benchmark reiterated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $152.40.

NVIDIA Company 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.