Burke & Herbert Bank & Trust Co. Cuts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Burke & Herbert Bank & Trust Co. trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 22.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,222 shares of the computer hardware maker’s stock after selling 2,673 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in NVIDIA were worth $1,120,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. raised its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares in the last quarter. CGC Financial Services LLC bought a new position in NVIDIA in the second quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the first quarter worth about $27,000. Finally, Quest Partners LLC bought a new position in NVIDIA in the second quarter worth about $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 3.5 %

Shares of NVDA stock opened at $145.14 on Thursday. NVIDIA Co. has a 1 year low of $45.27 and a 1 year high of $152.89. The firm has a fifty day moving average price of $137.32 and a 200-day moving average price of $124.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $3.55 trillion, a price-to-earnings ratio of 57.12, a PEG ratio of 2.51 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, equities analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA declared that its board has authorized a share repurchase plan 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 buy up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given 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 of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,796,986 shares of company stock valued at $214,418,399 in the last 90 days. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NVDA shares. Needham & Company LLC increased their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. The Goldman Sachs Group increased their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wedbush increased their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. William Blair initiated coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.