Arvest Bank Trust Division Invests $3.96 Million in NVIDIA Co. (NASDAQ:NVDA)

Arvest Bank Trust Division acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 32,619 shares of the computer hardware maker’s stock, valued at approximately $3,961,000.

A number of other hedge funds have also modified their holdings of NVDA. Ironwood Wealth Management LLC. boosted its position in NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after acquiring an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. boosted its position in NVIDIA by 900.0% during the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after acquiring an additional 3,240 shares during the last quarter. Tobam boosted its position in NVIDIA by 811.4% during the second quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock worth $5,126,000 after acquiring an additional 36,937 shares during the last quarter. Hudson Value Partners LLC boosted its position in NVIDIA by 845.9% during the second quarter. Hudson Value Partners LLC now owns 34,675 shares of the computer hardware maker’s stock worth $4,284,000 after acquiring an additional 31,009 shares during the last quarter. Finally, Modera Wealth Management LLC boosted its position in NVIDIA by 967.2% during the second quarter. Modera Wealth Management LLC now owns 115,348 shares of the computer hardware maker’s stock worth $14,250,000 after acquiring an additional 104,540 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of analyst reports. TD Cowen raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Raymond James lifted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Evercore ISI lifted their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Mizuho lifted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Price Performance

Shares of NVDA opened at $147.07 on Thursday. The firm has a market capitalization of $3.60 trillion, a PE ratio of 57.88, a PEG ratio of 2.48 and a beta of 1.64. The company’s 50-day moving average is $138.69 and its 200-day moving average is $129.22. NVIDIA Co. has a fifty-two week low of $58.58 and a fifty-two week high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

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

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is 1.57%.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by company insiders.

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.