HTLF Bank Sells 6,087 Shares of NVIDIA Co. (NASDAQ:NVDA)

HTLF Bank lowered its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 41.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,613 shares of the computer hardware maker's stock after selling 6,087 shares during the period. HTLF Bank's holdings in NVIDIA were worth $1,046,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp lifted its position in NVIDIA by 854.1% during the 2nd 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 acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in NVIDIA by 870.3% during 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 acquiring an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of NVIDIA by 808.6% in 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 purchasing an additional 73,589,208 shares during the period. Institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

NVDA has been the topic of several recent research reports. DA Davidson reissued a "neutral" rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Wells Fargo & Company increased their price objective on shares of NVIDIA from $155.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, August 29th. Bank of America lifted their target price on shares of NVIDIA from $165.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Piper Sandler raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. Finally, Raymond James upped their price objective on NVIDIA from $140.00 to $170.00 and gave the company a "strong-buy" rating in a research note on Thursday, November 14th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and an average target price of $152.40.

NVIDIA Price Performance

NASDAQ:NVDA opened at $140.15 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The stock's 50-day simple moving average is $131.64 and its 200 day simple moving average is $120.96. The company has a market cap of $3.44 trillion, a P/E ratio of 65.74, a P/E/G ratio of 1.49 and a beta of 1.66. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analysts' expectations of $28.74 billion. During the same period last year, the business earned $0.25 earnings per share. The firm's revenue was up 122.4% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.67 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio is 1.88%.

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

Insider Activity

In related news, Director Mark A. Stevens sold 165,100 shares of NVIDIA stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total transaction 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 approximately $1,021,107,588.59. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company's stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last three months. 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.