OLD National Bancorp IN Acquires 185,807 Shares of NVIDIA Co. (NASDAQ:NVDA)

OLD National Bancorp IN increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 124.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 334,513 shares of the computer hardware maker’s stock after purchasing an additional 185,807 shares during the period. NVIDIA makes up approximately 0.9% of OLD National Bancorp IN’s holdings, making the stock its 18th largest position. OLD National Bancorp IN’s holdings in NVIDIA were worth $40,623,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the period. CGC Financial Services LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the first quarter valued at approximately $27,000. Finally, Quest Partners LLC acquired a new position in shares of NVIDIA in the second quarter valued at $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Phillip Securities reiterated an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Stifel Nicolaus lifted their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Truist Financial boosted their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Mizuho increased their price objective on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note 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 stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA stock opened at $136.92 on Wednesday. The company has a market capitalization of $3.35 trillion, a P/E ratio of 53.88, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66. The company’s 50 day moving average price is $134.82 and its two-hundred day moving average price is $123.17. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, analysts expect that NVIDIA Co. will post 2.73 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

NVIDIA declared that its board has approved a stock 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Company 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.