First Citizens Bank & Trust Co. Has $62.80 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

First Citizens Bank & Trust Co. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 467,647 shares of the computer hardware maker’s stock after buying an additional 21,844 shares during the quarter. NVIDIA makes up about 1.0% of First Citizens Bank & Trust Co.’s holdings, making the stock its 13th biggest position. First Citizens Bank & Trust Co.’s holdings in NVIDIA were worth $62,800,000 at the end of the most recent reporting period.

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

NVIDIA Stock Performance

Shares of NVDA opened at $139.40 on Wednesday. The firm’s 50 day moving average price is $134.52 and its two-hundred day moving average price is $130.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a twelve month low of $66.25 and a twelve month high of $153.13. The firm has a market cap of $3.41 trillion, a P/E ratio of 54.86, a PEG ratio of 1.62 and a beta of 1.62.

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

Insider Transactions at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the sale, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 over the last three months. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price target on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Truist Financial increased their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Redburn Atlantic assumed coverage on NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. Finally, HSBC lowered their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.21.

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.