NVIDIA Co. (NASDAQ:NVDA) is CHICAGO TRUST Co NA’s 4th Largest Position

CHICAGO TRUST Co NA grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 141,064 shares of the computer hardware maker’s stock after purchasing an additional 8,085 shares during the period. NVIDIA makes up about 3.0% of CHICAGO TRUST Co NA’s holdings, making the stock its 4th largest position. CHICAGO TRUST Co NA’s holdings in NVIDIA were worth $17,131,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Legal & General Group Plc raised its holdings in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in NVIDIA by 854.1% in the second 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. increased its position in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 buying an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. The trade was a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 in the last quarter. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Up 0.3 %

Shares of NVIDIA stock opened at $146.76 on Friday. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The stock has a market cap of $3.60 trillion, a price-to-earnings ratio of 68.84, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $129.39 and a 200 day moving average price of $119.51.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the business posted $0.25 EPS. The company’s revenue was up 122.4% on a year-over-year basis. Equities research analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA declared that its board has approved a share buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Analyst Ratings Changes

NVDA has been the subject of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a report on Tuesday, October 8th. Piper Sandler increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday. Susquehanna lifted their price objective on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday. The Goldman Sachs Group upped their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Raymond James raised their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Five equities 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 company. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $152.40.

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.