NVIDIA Co. (NASDAQ:NVDA) is Montecito Bank & Trust’s 2nd Largest Position

Montecito Bank & Trust cut its position in NVIDIA Co. (NASDAQ:NVDA) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,416 shares of the computer hardware maker’s stock after selling 8,319 shares during the quarter. NVIDIA accounts for 5.0% of Montecito Bank & Trust’s holdings, making the stock its 2nd largest holding. Montecito Bank & Trust’s holdings in NVIDIA were worth $28,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FCG Investment Co increased its position in shares of NVIDIA by 7.0% during the fourth quarter. FCG Investment Co now owns 69,862 shares of the computer hardware maker’s stock worth $9,382,000 after acquiring an additional 4,565 shares during the period. Key Client Fiduciary Advisors LLC raised its holdings in NVIDIA by 2.6% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 39,425 shares of the computer hardware maker’s stock worth $5,294,000 after purchasing an additional 1,016 shares in the last quarter. Apeiron RIA LLC lifted its position in NVIDIA by 10.3% in the fourth quarter. Apeiron RIA LLC now owns 15,605 shares of the computer hardware maker’s stock valued at $2,096,000 after acquiring an additional 1,451 shares during the last quarter. Verde Capital Management boosted its position in shares of NVIDIA by 3.6% in the 4th quarter. Verde Capital Management now owns 53,041 shares of the computer hardware maker’s stock valued at $7,123,000 after purchasing an additional 1,853 shares during the period. Finally, Seros Financial LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $1,831,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was 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 owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $138.85 on Friday. 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 Co. has a twelve month low of $66.25 and a twelve month high of $153.13. The company has a fifty day simple moving average of $134.52 and a 200 day simple moving average of $130.07. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 54.64, a PEG ratio of 1.62 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. Equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently issued reports on NVDA. Susquehanna raised their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. HSBC reduced their price objective on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Citigroup boosted their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Monday, January 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $166.23.

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.