Indiana Trust & Investment Management Co Has $24.22 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Indiana Trust & Investment Management Co raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 11.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,474 shares of the computer hardware maker’s stock after acquiring an additional 20,612 shares during the period. NVIDIA comprises about 8.3% of Indiana Trust & Investment Management Co’s investment portfolio, making the stock its 2nd largest position. Indiana Trust & Investment Management Co’s holdings in NVIDIA were worth $24,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in NVDA. LaFleur & Godfrey LLC raised its holdings in shares of NVIDIA by 6.5% in the third quarter. LaFleur & Godfrey LLC now owns 3,300 shares of the computer hardware maker’s stock valued at $401,000 after buying an additional 200 shares during the last quarter. Baskin Financial Services Inc. acquired a new stake in NVIDIA in the 3rd quarter valued at about $291,000. PCG Wealth Advisors LLC raised its stake in shares of NVIDIA by 7.6% in the third quarter. PCG Wealth Advisors LLC now owns 18,076 shares of the computer hardware maker’s stock worth $2,195,000 after acquiring an additional 1,271 shares during the last quarter. Transform Wealth LLC lifted its position in shares of NVIDIA by 40.0% during the third quarter. Transform Wealth LLC now owns 250,457 shares of the computer hardware maker’s stock worth $30,418,000 after purchasing an additional 71,534 shares in the last quarter. Finally, Hummer Financial Advisory Services Inc bought a new stake in shares of NVIDIA during the third quarter valued at approximately $522,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related 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 transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.91 % 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, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Robert W. Baird upped their price objective on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Needham & Company LLC upped their price target on NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price objective on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Susquehanna raised their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of NVIDIA in a research note on Monday, August 5th. Five equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $154.63.

NVIDIA Trading Down 0.8 %

Shares of NASDAQ:NVDA opened at $145.89 on Thursday. The company’s 50-day moving average price is $133.00 and its two-hundred day moving average price is $121.54. NVIDIA Co. has a one year low of $45.01 and a one year 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 stock has a market capitalization of $3.58 trillion, a PE ratio of 68.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. On average, equities analysts forecast that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA declared that its board has authorized a share repurchase 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

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.