NVIDIA Co. (NASDAQ:NVDA) Shares Sold by 1ST Source Bank

1ST Source Bank reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 81,086 shares of the computer hardware maker’s stock after selling 2,501 shares during the period. NVIDIA comprises approximately 0.6% of 1ST Source Bank’s holdings, making the stock its 22nd biggest holding. 1ST Source Bank’s holdings in NVIDIA were worth $10,889,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NVDA. Wealth Group Ltd. increased its holdings in shares of NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after buying an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in shares of NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares during the period. Swedbank AB grew its holdings in shares of NVIDIA by 4.8% during the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after purchasing an additional 1,868,358 shares during the period. Impax Asset Management Group plc raised its holdings in NVIDIA by 13.2% in the third quarter. Impax Asset Management Group plc now owns 5,501,589 shares of the computer hardware maker’s stock valued at $667,278,000 after buying an additional 640,840 shares during the period. Finally, Principal Financial Group Inc. lifted its position in NVIDIA by 3.7% during the third quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker’s stock valued at $4,326,576,000 after buying an additional 1,285,897 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 over the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NVDA shares. Rosenblatt Securities reduced their target price on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. UBS Group lowered their target price on NVIDIA from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Truist Financial increased their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Bank of America decreased their target price on shares of NVIDIA from $200.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.51.

NVIDIA Trading Down 4.5 %

NVIDIA stock opened at $96.91 on Tuesday. The firm has a 50-day moving average price of $115.87 and a two-hundred day moving average price of $129.71. NVIDIA Co. has a 52-week low of $76.40 and a 52-week high of $195.95. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 38.14, a PEG ratio of 1.76 and a beta of 1.96. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

About NVIDIA

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.