Trust Co. of Oklahoma Sells 1,414 Shares of NVIDIA Co. (NASDAQ:NVDA)

Trust Co. of Oklahoma cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 11.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,760 shares of the computer hardware maker’s stock after selling 1,414 shares during the quarter. Trust Co. of Oklahoma’s holdings in NVIDIA were worth $1,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. Vanguard Group Inc. lifted its position in NVIDIA by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the period. Legal & General Group Plc increased its stake in shares of NVIDIA by 884.0% during 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 purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of NVIDIA by 854.1% during the second 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 purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of NVIDIA by 1,123.2% in the 2nd 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 in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent research reports. Sanford C. Bernstein lifted their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Tuesday, October 8th. Susquehanna upped their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Finally, Robert W. Baird upped their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.40.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 3.3 %

NVDA opened at $141.98 on Monday. 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 quick ratio of 3.79 and a current ratio of 4.27. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 66.60, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The firm’s fifty day moving average is $130.97 and its 200 day moving average is $120.58.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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. The firm had revenue of $30.04 billion during 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 business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

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. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.