First Financial Bankshares Inc Sells 65,150 Shares of NVIDIA Co. (NASDAQ:NVDA)

First Financial Bankshares Inc cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 426,052 shares of the computer hardware maker’s stock after selling 65,150 shares during the period. First Financial Bankshares Inc’s holdings in NVIDIA were worth $51,740,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Riggs Asset Managment Co. Inc. raised its position in NVIDIA by 7.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 103,143 shares of the computer hardware maker’s stock worth $12,526,000 after acquiring an additional 7,588 shares during the period. L. Roy Papp & Associates LLP raised its position in NVIDIA by 2.5% in the third quarter. L. Roy Papp & Associates LLP now owns 3,471 shares of the computer hardware maker’s stock worth $422,000 after acquiring an additional 85 shares during the period. West Bancorporation Inc. raised its position in NVIDIA by 3.2% in the third quarter. West Bancorporation Inc. now owns 9,933 shares of the computer hardware maker’s stock worth $1,206,000 after acquiring an additional 310 shares during the period. Pointe Capital Management LLC raised its position in NVIDIA by 48.6% in the third quarter. Pointe Capital Management LLC now owns 9,837 shares of the computer hardware maker’s stock worth $1,195,000 after acquiring an additional 3,217 shares during the period. Finally, Montz Harcus Wealth Management LLC increased its stake in shares of NVIDIA by 1.5% in the third quarter. Montz Harcus Wealth Management LLC now owns 17,886 shares of the computer hardware maker’s stock worth $2,172,000 after purchasing an additional 262 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,796,986 shares of company stock worth $214,418,399. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVDA. Mizuho increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Susquehanna increased their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Craig Hallum increased their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. UBS Group increased their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Melius Research increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

NVIDIA stock opened at $142.44 on Friday. The firm has a 50-day moving average price of $138.16 and a 200-day moving average price of $125.58. The firm has a market capitalization of $3.49 trillion, a PE ratio of 56.06, a price-to-earnings-growth ratio of 2.62 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $45.60 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. As a group, equities research analysts forecast that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA Company 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.