Huntington National Bank Has $556.25 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Huntington National Bank cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,580,458 shares of the computer hardware maker’s stock after selling 219,841 shares during the period. NVIDIA comprises about 4.0% of Huntington National Bank’s investment portfolio, making the stock its largest position. Huntington National Bank’s holdings in NVIDIA were worth $556,251,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NVDA. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA in the 3rd quarter worth about $27,000. Quest Partners LLC bought a new stake in NVIDIA during the second quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA during the second quarter worth approximately $31,000. FPC Investment Advisory Inc. raised its stake in shares of NVIDIA by 900.0% in the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after acquiring an additional 261 shares during the last quarter. Finally, West Financial Advisors LLC acquired a new position in shares of NVIDIA in the 3rd quarter worth approximately $36,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,351,886 shares of company stock worth $176,825,650. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NVDA. Robert W. Baird boosted their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. TD Cowen increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Stifel Nicolaus lifted their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Oppenheimer restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

Shares of NVDA opened at $137.49 on Tuesday. 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’s fifty day moving average price is $139.84 and its 200-day moving average price is $128.03. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The firm has a market capitalization of $3.37 trillion, a PE ratio of 54.11, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

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

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

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.