NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Mechanics Bank Trust Department

Mechanics Bank Trust Department boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,507 shares of the computer hardware maker’s stock after purchasing an additional 4,055 shares during the quarter. NVIDIA makes up approximately 1.4% of Mechanics Bank Trust Department’s holdings, making the stock its 15th largest position. Mechanics Bank Trust Department’s holdings in NVIDIA were worth $10,870,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the 1st quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the 1st quarter valued at about $27,000. HBC Financial Services PLLC bought a new position in NVIDIA in the 1st quarter worth about $30,000. TCTC Holdings LLC acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $82,000. Finally, Slocum Gordon & Co LLP bought a new stake in shares of NVIDIA during the first quarter valued at approximately $98,000. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the transaction, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Tuesday, October 8th. Redburn Atlantic started coverage on NVIDIA in a research note on Tuesday. They issued a “buy” rating and a $178.00 price target for the company. Wells Fargo & Company raised their price target on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Raymond James upped their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday. Finally, Wedbush reissued an “outperform” rating and set a $160.00 target price (up previously from $138.00) on shares of NVIDIA in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Stock Up 0.3 %

NASDAQ:NVDA opened at $146.76 on Friday. The business’s fifty day moving average price is $129.39 and its 200 day moving average price is $119.51. The firm has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 68.84, a PEG 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. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77.

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, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. On average, sell-side analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Cuts Dividend

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

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.