CNB Bank Trims Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

CNB Bank cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,944 shares of the computer hardware maker’s stock after selling 310 shares during the quarter. NVIDIA accounts for 5.9% of CNB Bank’s holdings, making the stock its 3rd biggest position. CNB Bank’s holdings in NVIDIA were worth $12,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hoertkorn Richard Charles lifted its stake in NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares during the last quarter. Smart Portfolios LLC raised its holdings in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares during the period. Palisade Asset Management LLC lifted its stake in NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares during the last quarter. Kwmg LLC lifted its position in shares of NVIDIA by 0.6% in the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after buying an additional 77 shares during the last quarter. Finally, Total Wealth Planning LLC increased its holdings in shares of NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Tigress Financial upgraded NVIDIA from a “buy” rating to a “strong-buy” rating and increased their target price for the stock from $170.00 to $220.00 in a research note on Tuesday, January 28th. Wedbush boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. 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. Melius Research boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 target price on shares of NVIDIA in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $166.23.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 716 shares of NVIDIA 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 completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’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 sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $118.65 on Wednesday. The company has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 46.69, a PEG ratio of 2.16 and a beta of 1.62. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $66.25 and a twelve month high of $153.13. The stock has a fifty day simple moving average of $136.19 and a 200 day simple moving average of $129.38.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during 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 business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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