Washington Trust Bank trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 11.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243,666 shares of the computer hardware maker's stock after selling 31,975 shares during the quarter. NVIDIA accounts for 2.8% of Washington Trust Bank's portfolio, making the stock its 6th largest holding. Washington Trust Bank's holdings in NVIDIA were worth $29,591,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Hoertkorn Richard Charles lifted its stake in NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker's stock worth $424,000 after purchasing an additional 70 shares during the last quarter. Smart Portfolios LLC raised its holdings in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock worth $341,000 after buying an additional 75 shares in the last quarter. Total Wealth Planning LLC lifted its position in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker's stock worth $276,000 after buying an additional 78 shares during the last quarter. Boyd Watterson Asset Management LLC OH boosted its stake in NVIDIA by 0.3% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker's stock valued at $3,653,000 after buying an additional 80 shares in the last quarter. Finally, Pavion Blue Capital LLC grew its position in NVIDIA by 0.4% in the third quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker's stock valued at $2,629,000 after acquiring an additional 80 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.
Insider Activity at NVIDIA
In other news, Director John Dabiri sold 716 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company's stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,556,986 shares of company stock worth $201,687,727. Company insiders own 4.23% of the company's stock.
NVIDIA Stock Performance
Shares of NASDAQ NVDA traded up $4.02 during mid-day trading on Friday, reaching $134.70. 304,377,688 shares of the company's stock were exchanged, compared to its average volume of 382,932,125. The firm has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The firm has a 50-day moving average price of $139.63 and a two-hundred day moving average price of $127.32. 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 Co. has a 52 week low of $47.32 and a 52 week high of $152.89.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its 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 firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company's revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.
NVIDIA announced that its board has authorized a share buyback 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA's dividend payout ratio (DPR) is currently 1.57%.
Analysts Set New Price Targets
NVDA has been the subject of a number of research reports. DA Davidson increased their target price on shares of NVIDIA from $90.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Truist Financial raised their target price on shares of NVIDIA from $148.00 to $167.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Morgan Stanley upped their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Wells Fargo & Company raised their price objective on NVIDIA from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $175.00 target price on shares of NVIDIA in a 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $164.15.
View Our Latest Stock Analysis on NVDA
NVIDIA Company Profile
(
Free Report)
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.
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