Baker Boyer National Bank Takes $251,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Baker Boyer National Bank bought a new stake in NVIDIA Co. (NASDAQ:NVDA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,030 shares of the computer hardware maker’s stock, valued at approximately $251,000.

A number of other institutional investors also recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. purchased a new stake in NVIDIA during the first quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the 1st quarter valued at $27,000. HBC Financial Services PLLC purchased a new position in shares of NVIDIA in the 1st quarter valued at $30,000. Norwood Financial Corp acquired a new stake in NVIDIA during the 1st quarter worth $45,000. Finally, Coston McIsaac & Partners lifted its position in NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $134.81 on Friday. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The stock has a fifty day moving average price of $117.48 and a 200 day moving average price of $110.17. The company has a market cap of $3.32 trillion, a P/E ratio of 78.84, a PEG ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the completion of the transaction, the chief executive officer now owns 78,894,995 shares of the company’s stock, valued at $10,171,142,755.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the transaction, the director now owns 8,255,117 shares of the company’s stock, valued at approximately $1,012,159,895.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the sale, the chief executive officer now directly owns 78,894,995 shares of the company’s stock, valued at $10,171,142,755.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,201,270 shares of company stock valued at $371,285,277. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Truist Financial upped their price target on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Melius Research raised their price objective on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, August 6th. Finally, Benchmark restated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

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.