Central Bank & Trust Co. Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Central Bank & Trust Co. cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 641,559 shares of the computer hardware maker’s stock after selling 45,976 shares during the quarter. NVIDIA accounts for 10.7% of Central Bank & Trust Co.’s portfolio, making the stock its largest position. Central Bank & Trust Co.’s holdings in NVIDIA were worth $77,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVDA. Legal & General Group Plc boosted its stake in shares of 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 boosted 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 period. Ameriprise Financial Inc. increased its stake in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of NVIDIA by 808.6% in the second 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 period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 1.1 %

Shares of NASDAQ NVDA opened at $128.91 on Thursday. The firm’s 50-day simple moving average is $139.72 and its 200 day simple moving average is $127.08. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.16 trillion, a price-to-earnings ratio of 50.73, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. On average, research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NVDA shares. UBS Group lifted their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Needham & Company LLC boosted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. William Blair initiated coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Bank of America restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $164.15.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred 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 owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,628,156 shares of company stock worth $209,985,077. Insiders own 4.23% of the company’s stock.

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.