Citizens & Northern Corp Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Citizens & Northern Corp boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 897.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,181 shares of the computer hardware maker’s stock after purchasing an additional 77,544 shares during the quarter. NVIDIA comprises 3.3% of Citizens & Northern Corp’s holdings, making the stock its 8th biggest position. Citizens & Northern Corp’s holdings in NVIDIA were worth $10,647,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Aveo Capital Partners LLC increased its stake in NVIDIA by 30.5% during the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after buying an additional 549 shares during the period. Gryphon Financial Partners LLC grew its stake in shares of NVIDIA by 60.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after purchasing an additional 5,496 shares during the last quarter. Alta Wealth Advisors LLC grew its stake in shares of NVIDIA by 0.4% in the 4th quarter. Alta Wealth Advisors LLC now owns 6,647 shares of the computer hardware maker’s stock worth $3,292,000 after purchasing an additional 26 shares during the last quarter. United Services Automobile Association grew its stake in shares of NVIDIA by 10.1% in the 4th quarter. United Services Automobile Association now owns 73,387 shares of the computer hardware maker’s stock worth $36,343,000 after purchasing an additional 6,760 shares during the last quarter. Finally, IPG Investment Advisors LLC grew its stake in shares of NVIDIA by 12.5% in the 4th quarter. IPG Investment Advisors LLC now owns 29,276 shares of the computer hardware maker’s stock worth $14,498,000 after purchasing an additional 3,243 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $124.28, for a total value of $14,913,600.00. Following the completion of the transaction, the chief executive officer now owns 79,734,995 shares in the company, valued at approximately $9,909,465,178.60. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $124.28, for a total transaction of $14,913,600.00. Following the sale, the chief executive officer now directly owns 79,734,995 shares in the company, valued at approximately $9,909,465,178.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,397,403 shares of company stock worth $526,762,784. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

NASDAQ:NVDA opened at $121.40 on Friday. The stock has a market cap of $2.98 trillion, a P/E ratio of 70.99, a PEG ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a fifty day moving average price of $115.81 and a 200 day moving average price of $107.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the company earned $0.25 EPS. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. Analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th 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 is Thursday, September 12th. NVIDIA’s dividend payout ratio is 2.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. HSBC lifted their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. UBS Group lifted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Susquehanna lifted their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Morgan Stanley lifted their target price on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Melius Research lifted their target price on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

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.