NVIDIA Co. (NASDAQ:NVDA) is First County Bank CT’s 6th Largest Position

First County Bank CT raised its position in NVIDIA Co. (NASDAQ:NVDA) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,376 shares of the computer hardware maker’s stock after purchasing an additional 1,705 shares during the period. NVIDIA accounts for 2.6% of First County Bank CT’s investment portfolio, making the stock its 6th largest holding. First County Bank CT’s holdings in NVIDIA were worth $5,268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the third quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the second quarter worth approximately $31,000. West Financial Advisors LLC acquired a new position in NVIDIA in the third quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Phillip Securities restated an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Barclays boosted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Tuesday. Mizuho boosted their target price on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Robert W. Baird upped their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling

In related news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,071,886 shares of company stock worth $140,997,550. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $140.14 on Wednesday. The business has a 50 day moving average price of $139.72 and a 200 day moving average price of $128.37. The company has a market capitalization of $3.43 trillion, a P/E ratio of 55.15, a PEG ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 1-year low of $49.48 and a 1-year high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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 business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were 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 of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

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.