1ST Source Bank Decreases Stake in NVIDIA Co. (NASDAQ:NVDA)

1ST Source Bank reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,587 shares of the computer hardware maker’s stock after selling 2,022 shares during the period. NVIDIA accounts for about 0.6% of 1ST Source Bank’s holdings, making the stock its 25th biggest holding. 1ST Source Bank’s holdings in NVIDIA were worth $10,151,000 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 NVDA. Quest Partners LLC acquired a new stake in NVIDIA during the second quarter worth about $27,000. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA during the second quarter valued at about $31,000. West Financial Advisors LLC acquired a new stake in shares of NVIDIA during the third quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. increased its position in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $147.22 on Friday. The firm’s fifty day simple moving average is $138.70 and its 200-day simple moving average is $129.34. The stock has a market capitalization of $3.61 trillion, a price-to-earnings ratio of 57.94, a PEG ratio of 2.54 and a beta of 1.64. NVIDIA Co. has a 12 month low of $59.94 and a 12 month high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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 business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. As a group, equities analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NVDA shares. Needham & Company LLC lifted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Bank of America reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Morgan Stanley lifted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Susquehanna lifted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Raymond James lifted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Four equities research 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

Insider Activity

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 in the last ninety days. 4.23% of the stock is currently owned by company insiders.

About NVIDIA

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.