Mechanics Bank Trust Department reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 39.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,850 shares of the computer hardware maker’s stock after selling 5,671 shares during the period. Mechanics Bank Trust Department’s holdings in NVIDIA were worth $3,744,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Contravisory Investment Management Inc. bought a new position in shares of NVIDIA in the first quarter worth about $28,000. Nordwand Advisors LLC bought a new position in shares of NVIDIA in the first quarter worth about $28,000. Graham Capital Wealth Management LLC bought a new position in shares of NVIDIA in the first quarter worth about $311,102,000. Quarry LP bought a new position in shares of NVIDIA in the first quarter worth about $34,000. Finally, 25 LLC bought a new position in shares of NVIDIA in the first quarter worth about $46,000. 64.79% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
NVDA has been the topic of a number of recent analyst reports. Daiwa Capital Markets upgraded NVIDIA from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $408.00 to $475.00 in a research note on Thursday, June 29th. Morgan Stanley lifted their price objective on NVIDIA from $500.00 to $630.00 and gave the stock an “overweight” rating in a research note on Thursday, August 24th. Benchmark lifted their price objective on NVIDIA from $475.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Jefferies Financial Group upped their price target on NVIDIA from $500.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Bank of America upped their price target on NVIDIA from $550.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.70.
NVIDIA Stock Performance
NVDA stock opened at $439.66 on Tuesday. The business’s fifty day moving average is $455.24 and its 200-day moving average is $366.89. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. The company has a market cap of $1.09 trillion, a P/E ratio of 106.20, a price-to-earnings-growth ratio of 3.44 and a beta of 1.74. NVIDIA Co. has a twelve month low of $108.13 and a twelve month high of $502.66.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, topping the consensus estimate of $2.08 by $0.62. The business had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm’s revenue was up 101.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. Equities research analysts forecast that NVIDIA Co. will post 9.46 EPS for the current year.
NVIDIA Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 7th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date is Wednesday, September 6th. NVIDIA’s payout ratio is presently 3.86%.
Insider Buying and Selling
In related news, Director John Dabiri sold 283 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the sale, the director now owns 2,401 shares of the company’s stock, valued at approximately $1,019,296.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $448.99, for a total transaction of $13,329,615.12. Following the completion of the transaction, the chief executive officer now owns 7,918,875 shares in the company, valued at approximately $3,555,495,686.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Dabiri sold 283 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $424.53, for a total value of $120,141.99. Following the transaction, the director now owns 2,401 shares of the company’s stock, valued at approximately $1,019,296.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,515 shares of company stock valued at $67,726,231. 3.99% of the stock is owned by company insiders.
NVIDIA Company Profile
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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