Indiana Trust & Investment Management Co Grows Holdings in NVIDIA Co. (NASDAQ:NVDA)

Indiana Trust & Investment Management Co grew its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 11.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 199,474 shares of the computer hardware maker's stock after acquiring an additional 20,612 shares during the quarter. NVIDIA accounts for approximately 8.3% of Indiana Trust & Investment Management Co's investment portfolio, making the stock its 2nd biggest position. Indiana Trust & Investment Management Co's holdings in NVIDIA were worth $24,224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. increased its position in 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 purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new position in NVIDIA during the first quarter worth $26,000. CGC Financial Services LLC bought a new position in shares of NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the first quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price target on 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 increased their price objective on NVIDIA from $165.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Raymond James upped their price target on NVIDIA from $140.00 to $170.00 and gave the stock a "strong-buy" rating in a report on Thursday, November 14th. Finally, Benchmark restated a "buy" rating and set a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.63.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now directly owns 76,375,705 shares in the company, valued at $8,459,373,085.80. This represents a 0.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Thursday, September 19th. The stock was 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 in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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 Price Performance

NVIDIA stock opened at $145.89 on Thursday. The stock has a market cap of $3.58 trillion, a price-to-earnings ratio of 68.43, a PEG ratio of 1.54 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $133.00 and a 200 day simple moving average of $121.54. 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 posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $35.08 billion for the quarter, compared to analysts' expectations of $33.15 billion. During the same quarter last year, the company posted $0.38 EPS. The business's quarterly revenue was up 93.6% on a year-over-year basis. On average, research analysts forecast that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's payout ratio is 1.88%.

NVIDIA announced that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

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.