NVIDIA Co. (NASDAQ:NVDA) Shares Sold by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 2.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,487 shares of the computer hardware maker’s stock after selling 1,012 shares during the period. NVIDIA accounts for about 1.1% of First Commonwealth Financial Corp PA’s investment portfolio, making the stock its 11th biggest holding. First Commonwealth Financial Corp PA’s holdings in NVIDIA were worth $4,674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA in the second quarter valued at approximately $31,000. West Financial Advisors LLC bought a new position in shares of NVIDIA during the third quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

NASDAQ NVDA opened at $135.91 on Monday. NVIDIA Co. has a 1 year low of $53.56 and a 1 year high of $153.13. The stock’s 50-day moving average price is $139.90 and its two-hundred day moving average price is $128.70. The company has a market cap of $3.33 trillion, a PE ratio of 53.49, a PEG ratio of 2.43 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. 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 payout ratio is 1.57%.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of the business’s 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 represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NVDA shares. William Blair began coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Robert W. Baird boosted their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Barclays increased their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

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.