MidWestOne Financial Group Inc. Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

MidWestOne Financial Group Inc. lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 30.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,029 shares of the computer hardware maker’s stock after selling 3,511 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in NVIDIA were worth $975,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in NVIDIA in the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA during the second quarter worth about $31,000. West Financial Advisors LLC acquired a new position in shares of NVIDIA during the 3rd quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several research reports. Morgan Stanley boosted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Redburn Atlantic assumed coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Bank of America restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. TD Cowen upped their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Four research 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Stock Up 3.1 %

Shares of NASDAQ NVDA opened at $137.71 on Tuesday. The business’s fifty day simple moving average is $138.99 and its 200-day simple moving average is $129.05. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.37 trillion, a P/E ratio of 54.20, a PEG ratio of 2.45 and a beta of 1.64. NVIDIA Co. has a 12-month low of $56.11 and a 12-month high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, equities analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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 owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following 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 disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 over the last three months. Insiders own 4.23% of the company’s stock.

About NVIDIA

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.