Citizens National Bank Trust Department Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Citizens National Bank Trust Department boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,352 shares of the computer hardware maker’s stock after buying an additional 6,287 shares during the period. NVIDIA makes up about 1.9% of Citizens National Bank Trust Department’s investment portfolio, making the stock its 11th largest holding. Citizens National Bank Trust Department’s holdings in NVIDIA were worth $9,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. boosted its stake 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 valued at $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Truepoint Inc. lifted its holdings in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after purchasing an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares in the last quarter. Narwhal Capital Management raised its position in NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares during the last quarter. Finally, Blue Square Asset Management LLC lifted its stake in NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after acquiring an additional 10,136 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 1.2 %

NASDAQ NVDA opened at $130.39 on Wednesday. The company has a market capitalization of $3.19 trillion, a P/E ratio of 51.33, a P/E/G ratio of 2.43 and a beta of 1.63. The stock has a 50 day moving average price of $139.79 and a 200-day moving average price of $127.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a one year low of $47.32 and a one year high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the business posted $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVDA. Barclays boosted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Wedbush raised their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Westpark Capital lifted their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Raymond James raised their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Loop Capital reaffirmed a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,628,156 shares of company stock valued at $197,995,077 over the last three months. 4.23% of the stock is owned by company insiders.

NVIDIA 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.