NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. cut its position in NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,881 shares of the computer hardware maker’s stock after selling 3,768 shares during the period. NVIDIA accounts for 1.6% of Fulton Bank N.A.’s holdings, making the stock its 14th largest position. Fulton Bank N.A.’s holdings in NVIDIA were worth $42,368,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares during the period. Legal & General Group Plc grew its holdings in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Up 2.2 %

NVDA stock opened at $148.88 on Friday. The business has a 50 day moving average of $126.08 and a 200 day moving average of $117.25. The firm has a market cap of $3.65 trillion, a PE ratio of 69.90, a price-to-earnings-growth ratio of 1.43 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $148.93. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. NVIDIA’s revenue was up 122.4% on a year-over-year basis. On average, research analysts forecast that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. William Blair began coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird lifted their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of NVIDIA in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.07.

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.