First Commonwealth Financial Corp PA Sells 1,012 Shares of NVIDIA Co. (NASDAQ:NVDA)

First Commonwealth Financial Corp PA trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,487 shares of the computer hardware maker’s stock after selling 1,012 shares during the quarter. NVIDIA makes up 1.1% of First Commonwealth Financial Corp PA’s investment portfolio, making the stock its 11th largest position. First Commonwealth Financial Corp PA’s holdings in NVIDIA were worth $4,674,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of NVIDIA in the second quarter worth about $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the 2nd quarter worth approximately $31,000. West Financial Advisors LLC bought a new stake in NVIDIA during the third quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last ninety days. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NVDA shares. Bank of America reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. DA Davidson lifted their price objective on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Trading Down 3.0 %

Shares of NVDA opened at $135.91 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.49, a PEG ratio of 2.43 and a beta of 1.64. The stock has a fifty day moving average price of $139.90 and a two-hundred day moving average price of $128.70. NVIDIA Co. has a 52-week low of $53.56 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

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.