Country Trust Bank Has $193.19 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Country Trust Bank lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,590,861 shares of the computer hardware maker’s stock after selling 39,131 shares during the period. NVIDIA accounts for approximately 4.7% of Country Trust Bank’s portfolio, making the stock its 4th biggest position. Country Trust Bank’s holdings in NVIDIA were worth $193,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sugarloaf Wealth Management LLC increased its holdings in shares of NVIDIA by 4.1% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 17,100 shares of the computer hardware maker’s stock worth $2,077,000 after purchasing an additional 670 shares in the last quarter. Park Place Capital Corp increased its holdings in shares of NVIDIA by 78.2% in the 3rd quarter. Park Place Capital Corp now owns 58,626 shares of the computer hardware maker’s stock worth $7,120,000 after purchasing an additional 25,726 shares in the last quarter. Traveka Wealth LLC increased its holdings in shares of NVIDIA by 0.9% in the 3rd quarter. Traveka Wealth LLC now owns 35,114 shares of the computer hardware maker’s stock worth $4,264,000 after purchasing an additional 304 shares in the last quarter. Lbmc Investment Advisors LLC increased its holdings in shares of NVIDIA by 8.6% in the 3rd quarter. Lbmc Investment Advisors LLC now owns 11,121 shares of the computer hardware maker’s stock worth $1,351,000 after purchasing an additional 885 shares in the last quarter. Finally, Dakota Community Bank & Trust NA increased its holdings in shares of NVIDIA by 5.5% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 3,102 shares of the computer hardware maker’s stock worth $377,000 after purchasing an additional 162 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 0.8 %

Shares of NASDAQ NVDA opened at $147.63 on Friday. The business’s 50 day moving average is $127.27 and its two-hundred day moving average is $117.94. 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 Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The stock has a market capitalization of $3.62 trillion, a P/E ratio of 69.25, a PEG ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, research analysts expect that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.88%.

NVIDIA announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have commented on the company. Mizuho lifted their target price on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Truist Financial raised their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group raised their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Wedbush restated an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Raymond James raised their price target on NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.07.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. 4.23% of the stock is owned by 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.