Community Bank & Trust Waco Texas increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 887.6% in the 2nd quarter, according to the company’s latest filings with the SEC. The fund now owns 110,740 shares of the computer hardware maker’s stock after purchasing an additional 99,527 shares during the period. NVIDIA accounts for approximately 3.3% of Community Bank & Trust Waco Texas’s portfolio, giving it the third largest position. Community Bank & Trust Waco Texas’s NVIDIA holdings were worth $13,681,000 at the end of the most recent quarter.
Other hedge funds and institutional investors have also recently modified their holdings of the company’s stock. International Private Wealth Advisors LLC increased its stake in shares of NVIDIA by 1,452.1% in the 2nd quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock valued at $928,000 after purchasing an additional 7,028 shares during the last quarter. Lafayette Investments Inc. grew its stake in shares of NVIDIA by 901.8% in the 2nd quarter. Lafayette Investment Co. now owns 5,710 shares of the computer hardware maker’s stock valued at $705,000 after purchasing an additional 5,140 shares during the last quarter. BSN CAPITAL PARTNERS Ltd increased its holdings in shares of NVIDIA by 51.4% in the 2nd quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock valued at $51,823,000 after acquiring an additional 141,930 shares in the last quarter. BLB&B Advisors LLC increased its holdings in shares of NVIDIA by 843.8% in the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after acquiring an additional 510,294 shares in the last quarter. Finally, Cypress Point Wealth Management LLC increased its holdings in shares of NVIDIA by 772.8% in the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock valued at $739,000 after acquiring an additional 5,294 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.
Analyst rating changes
NVDA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Evercore ISI increased their target price on NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Truist Financial increased their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Piper Sandler reissued an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Finally, Jefferies Financial Group increased their target price on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Five analysts have rated the stock with a hold rating, 37 have rated it a buy, and two have rated it a strong buy. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.10.
Check out the latest stock report on NVIDIA.
NVIDIA price performance
NVIDIA stock opened Friday at $124.92. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $140.76. The company’s current ratio is 4.27x, quick ratio is 3.79x, and debt-to-equity ratio is 0.15x. The company’s 50 day simple moving average is $116.26 and its 200 day simple moving average is $109.21. The company has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 73.05x, a PEG ratio of 1.05x, and a beta of 1.67x.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net profit margin of 55.04%. The business’ quarterly revenue increased 122.4% year-over-year. In the same period last year, the business earned $0.25 per share. Sell-side analysts expect NVIDIA Inc. to post 2.65 EPS for this year.
NVIDIA cuts dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. A $0.01 dividend was issued to shareholders of record on Thursday, September 12th. The ex-dividend date was Thursday, September 12th. This equates to an annualized dividend of $0.04 and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.
NVIDIA announced on Wednesday, August 28, that its board of directors has approved a stock repurchase plan that will allow the company to buy back $50 billion worth of its outstanding shares. The buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Stock buyback plans are usually an indication that company management believes its stock is undervalued.
Insider trading at NVIDIA
In other news, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. This represents a 0.00% decrease in share ownership. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. In other news, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. This represents a 0.00% decrease in share ownership. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. Also, insider Donald F. Robertson Jr. sold 4,500 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade decreased the position by 0.00%. Disclosures regarding this sale can be found here. Insiders sold 4,077,403 shares of company stock valued at $486,690,184 over the past quarter. 4.23% of the stock is currently owned by company insiders.
About NVIDIA
(Free report)
NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics division provides GeForce GPUs for gaming and PCs, GeForce NOW game streaming services and related infrastructure, and solutions for gaming platforms. Quadro/NVIDIA RTX GPU for enterprise workstation graphics. Virtual GPU or vGPU software for cloud-based visual and virtual computing. Automotive platform for infotainment systems. Omniverse software for building and operating Metaverse and 3D Internet applications.
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