Indiana Trust & Investment Management Co Purchases 20,612 Shares of NVIDIA Co. (NASDAQ:NVDA)

Indiana Trust & Investment Management Co increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 199,474 shares of the computer hardware maker’s stock after purchasing an additional 20,612 shares during the quarter. NVIDIA comprises approximately 8.3% of Indiana Trust & Investment Management Co’s portfolio, making the stock its 2nd biggest holding. Indiana Trust & Investment Management Co’s holdings in NVIDIA were worth $24,224,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NVDA. Legal & General Group Plc boosted its holdings in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock worth $10,215,474,000 after buying an additional 73,589,208 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVDA shares. William Blair started coverage on NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Raymond James boosted their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Evercore ISI boosted their price target on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. HSBC raised their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Robert W. Baird boosted their price objective on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.63.

NVIDIA Trading Down 0.8 %

Shares of NVIDIA stock opened at $145.89 on Thursday. The stock has a fifty day moving average price of $133.00 and a 200-day moving average price of $121.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The firm has a market cap of $3.58 trillion, a PE ratio of 68.49, a P/E/G ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. Equities research analysts anticipate that NVIDIA Co. will post 2.67 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.88%.

NVIDIA declared that its board has authorized a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % 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 in the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Company 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.