Park National Corp OH Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Park National Corp OH lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 13.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 873,092 shares of the computer hardware maker’s stock after selling 134,780 shares during the period. NVIDIA comprises 3.7% of Park National Corp OH’s holdings, making the stock its 4th biggest holding. Park National Corp OH’s holdings in NVIDIA were worth $106,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of NVIDIA by 884.0% during 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 purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of NVIDIA by 854.1% during the second 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 purchasing an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake 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 worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVDA. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Truist Financial lifted their price objective on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. DA Davidson reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Stock Up 2.0 %

Shares of NASDAQ:NVDA opened at $135.40 on Monday. NVIDIA Co. has a 1 year low of $42.89 and a 1 year high of $144.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The business has a fifty day moving average price of $125.25 and a two-hundred day moving average price of $116.24. The company has a market capitalization of $3.32 trillion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. Analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

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

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the transaction, the chief executive officer now owns 76,854,995 shares of the company’s stock, valued at $7,981,391,230.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the sale, the chief executive officer now owns 76,854,995 shares of the company’s stock, valued at approximately $7,981,391,230.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,396,270 shares of company stock valued at $279,825,927 in the last 90 days. 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.