First National Bank Sioux Falls Acquires 4,221 Shares of NVIDIA Co. (NASDAQ:NVDA)

First National Bank Sioux Falls boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the second quarter, HoldingsChannel reports. The fund owned 4,690 shares of the computer hardware maker’s stock after purchasing an additional 4,221 shares during the quarter. First National Bank Sioux Falls’ holdings in NVIDIA were worth $579,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the 1st quarter valued at $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA during the 2nd quarter valued at $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the 1st quarter valued at $27,000. 65.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on NVDA. Loop Capital reiterated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. The Goldman Sachs Group restated a “buy” rating and set a $135.00 price objective on shares of NVIDIA in a report on Monday, August 19th. Mizuho upped their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. HSBC upped their target price 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. Finally, Citigroup increased their price target on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Trading Down 2.1 %

NVDA opened at $121.40 on Friday. The business’s 50-day simple moving average is $115.88 and its 200-day simple moving average is $108.23. The company has a market cap of $2.99 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 debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. As a group, equities research analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.01 per share. 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 presently 2.34%.

NVIDIA announced that its board has authorized a share repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $122.78, for a total value of $14,733,600.00. Following the completion of the transaction, the chief executive officer now directly owns 79,974,995 shares of the company’s stock, valued at approximately $9,819,329,886.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the sale, the director now owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,397,403 shares of company stock worth $526,762,784. 4.23% of the stock is currently owned by corporate insiders.

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.