BankPlus Trust Department Buys New Position in NVIDIA Co. (NASDAQ:NVDA)

BankPlus Trust Department purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, HoldingsChannel reports. The firm purchased 67,725 shares of the computer hardware maker’s stock, valued at approximately $9,095,000. NVIDIA comprises approximately 3.0% of BankPlus Trust Department’s investment portfolio, making the stock its 4th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hoertkorn Richard Charles lifted its holdings in shares of 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 purchasing an additional 70 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its position in NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after buying an additional 71 shares during the last quarter. Smart Portfolios LLC lifted 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 acquiring an additional 75 shares during the period. Palisade Asset Management LLC boosted its holdings in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares during the last quarter. Finally, Baker Boyer National Bank grew its stake in shares of NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after acquiring an additional 76 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 1.6 %

Shares of NVDA opened at $109.67 on Monday. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company’s fifty day moving average is $125.01 and its 200 day moving average is $131.61. The stock has a market capitalization of $2.68 trillion, a PE ratio of 43.16, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 183,609 shares of company stock valued at $22,642,615. 4.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

NVDA has been the subject of several research reports. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. KeyCorp set a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Mizuho reduced their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Finally, Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Four investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.51.

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.