First County Bank CT Acquires 1,705 Shares of NVIDIA Co. (NASDAQ:NVDA)

First County Bank CT lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,376 shares of the computer hardware maker’s stock after purchasing an additional 1,705 shares during the quarter. NVIDIA comprises about 2.6% of First County Bank CT’s portfolio, making the stock its 6th biggest position. First County Bank CT’s holdings in NVIDIA were worth $5,268,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. increased its position in shares of NVIDIA by 897.5% in 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 acquiring an additional 107,169 shares during the period. Truepoint Inc. grew its stake in NVIDIA by 914.1% during the 2nd 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 during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after purchasing an additional 208,362 shares during the period. Blue Square Asset Management LLC raised its stake in shares of NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares during the last quarter. Finally, Narwhal Capital Management lifted its holdings in shares of NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after purchasing an additional 26,373 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Piper Sandler boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Redburn Atlantic started coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Finally, Phillip Securities reiterated an “accumulate” rating and set a $160.00 price target (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Four investment 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 MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,071,886 shares of company stock valued at $140,997,550. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $140.14 on Wednesday. NVIDIA Co. has a one year low of $49.48 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The business’s 50 day moving average price is $139.72 and its 200 day moving average price is $128.37. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.15, a PEG ratio of 2.43 and a beta of 1.64.

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

NVIDIA Dividend Announcement

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

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.