Baker Boyer National Bank Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Baker Boyer National Bank acquired a new stake in NVIDIA Co. (NASDAQ:NVDA) in the 2nd quarter, Holdings Channel reports. The firm acquired 2,030 shares of the computer hardware maker’s stock, valued at approximately $251,000.

A number of other large investors have also made changes to their positions in the stock. Concentric Wealth Management LLC bought a new stake in NVIDIA in the fourth quarter valued at $220,000. Chilton Investment Co. Inc. grew its position in shares of NVIDIA by 53.3% during the 4th quarter. Chilton Investment Co. Inc. now owns 964 shares of the computer hardware maker’s stock worth $477,000 after buying an additional 335 shares during the period. Brevan Howard Capital Management LP lifted its stake in NVIDIA by 640.5% in the fourth quarter. Brevan Howard Capital Management LP now owns 22,185 shares of the computer hardware maker’s stock valued at $10,986,000 after buying an additional 19,189 shares during the period. Biltmore Family Office LLC increased its stake in NVIDIA by 3.1% in the fourth quarter. Biltmore Family Office LLC now owns 2,704 shares of the computer hardware maker’s stock valued at $1,339,000 after purchasing an additional 82 shares in the last quarter. Finally, Barden Capital Management Inc. grew its stake in NVIDIA by 11.7% in the fourth quarter. Barden Capital Management Inc. now owns 8,226 shares of the computer hardware maker’s stock valued at $4,074,000 after acquiring an additional 862 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now directly owns 77,094,995 shares of the company’s stock, valued at approximately $7,694,851,450.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,201,270 shares of company stock valued at $371,285,277. 4.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Bank of America reissued a “buy” rating and set a $165.00 price objective on shares of NVIDIA in a research report on Thursday, September 5th. Citigroup upped their target price on shares of NVIDIA from $126.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, UBS Group reissued a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Price Performance

NVIDIA stock opened at $134.81 on Friday. The company has a market capitalization of $3.32 trillion, a PE ratio of 78.84, a P/E/G ratio of 1.05 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $117.48 and a two-hundred day moving average price of $110.17. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the company earned $0.25 EPS. The firm’s revenue was up 122.4% compared to the same quarter last year. Analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 2.34%.

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.