Mechanics Financial Corp Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Mechanics Financial Corp boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 71.8% during the third quarter, Holdings Channel.com reports. The firm owned 25,012 shares of the computer hardware maker’s stock after acquiring an additional 10,452 shares during the quarter. NVIDIA comprises about 1.3% of Mechanics Financial Corp’s portfolio, making the stock its 14th largest holding. Mechanics Financial Corp’s holdings in NVIDIA were worth $3,037,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Hoertkorn Richard Charles raised its holdings in NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares during the period. Smart Portfolios LLC raised its stake in NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares during the period. Total Wealth Planning LLC lifted its holdings in NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after purchasing an additional 78 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its holdings in NVIDIA by 0.3% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after buying an additional 80 shares in the last quarter. Finally, Pavion Blue Capital LLC grew its holdings in NVIDIA by 0.4% during the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after buying an additional 80 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,226,886 shares of company stock worth $161,499,400. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $138.31 on Friday. The company has a market cap of $3.39 trillion, a P/E ratio of 54.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $139.51 and its 200-day moving average price is $128.16. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Citigroup lifted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Redburn Atlantic began coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Truist Financial increased their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wedbush increased their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company upped their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.