City Holding Co. Sells 650 Shares of NVIDIA Co. (NASDAQ:NVDA)

City Holding Co. lessened its position in NVIDIA Co. (NASDAQ:NVDA) by 36.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,125 shares of the computer hardware maker’s stock after selling 650 shares during the period. City Holding Co.’s holdings in NVIDIA were worth $427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accurate Investment Solutions Inc. lifted its stake in shares of NVIDIA by 111.1% in the first quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 50 shares in the last quarter. PrairieView Partners LLC bought a new position in shares of NVIDIA in the first quarter worth approximately $26,000. Archer Investment Corp bought a new position in shares of NVIDIA in the fourth quarter worth approximately $29,000. Capital Wealth Alliance LLC bought a new position in shares of NVIDIA in the fourth quarter worth approximately $30,000. Finally, Horan Securities Inc. bought a new position in shares of NVIDIA in the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 68.80% of the company’s stock.

NVDA has been the subject of several research reports. Needham & Company LLC initiated coverage on shares of NVIDIA in a report on Wednesday, June 24th. They set a “buy” rating and a $400.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of NVIDIA from $385.00 to $461.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler boosted their price objective on shares of NVIDIA from $350.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Oppenheimer reissued a “buy” rating and set a $400.00 price objective on shares of NVIDIA in a report on Thursday, June 11th. Finally, Benchmark boosted their price objective on shares of NVIDIA from $320.00 to $410.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $363.24.

In other news, EVP Ajay K. Puri sold 6,452 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $416.36, for a total value of $2,686,354.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director A Brooke Seawell sold 629 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $366.27, for a total transaction of $230,383.83. Following the completion of the sale, the director now owns 16,159 shares of the company’s stock, valued at approximately $5,918,556.93. The disclosure for this sale can be found here. In the last 90 days, insiders bought 53 shares of company stock valued at $15,322 and sold 250,738 shares valued at $93,670,532. 4.47% of the stock is currently owned by company insiders.

NVDA stock opened at $402.09 on Tuesday. NVIDIA Co. has a 52 week low of $147.39 and a 52 week high of $431.69. The company has a quick ratio of 9.70, a current ratio of 10.29 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $370.68 and a two-hundred day simple moving average of $292.65. The firm has a market capitalization of $257.79 billion, a P/E ratio of 75.16, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, May 21st. The computer hardware maker reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.44. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3 billion. NVIDIA had a net margin of 28.17% and a return on equity of 28.59%. NVIDIA’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. As a group, analysts anticipate that NVIDIA Co. will post 6.56 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $0.16 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 0.16%. NVIDIA’s dividend payout ratio (DPR) is presently 13.94%.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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