Mechanics Bank Trust Department Sells 1,397 Shares of NVIDIA Co. (NASDAQ:NVDA)

Mechanics Bank Trust Department reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 1.5% during the first quarter, HoldingsChannel reports. The firm owned 89,213 shares of the computer hardware maker’s stock after selling 1,397 shares during the period. NVIDIA comprises approximately 1.3% of Mechanics Bank Trust Department’s portfolio, making the stock its 20th largest holding. Mechanics Bank Trust Department’s holdings in NVIDIA were worth $9,669,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. raised its holdings in shares of NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after purchasing an additional 71 shares during the last quarter. Baker Boyer National Bank raised its holdings in shares of NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after purchasing an additional 76 shares during the last quarter. SC&H Financial Advisors Inc. raised its holdings in shares of NVIDIA by 1.6% in the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock valued at $681,000 after purchasing an additional 80 shares during the last quarter. DecisionPoint Financial LLC raised its holdings in shares of NVIDIA by 2.9% in the fourth quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock valued at $386,000 after purchasing an additional 80 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC raised its holdings in shares of NVIDIA by 0.7% in the fourth quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker’s stock valued at $1,544,000 after purchasing an additional 84 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NVDA. Mizuho increased their price target on shares of NVIDIA from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, May 29th. DA Davidson increased their price target on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Raymond James increased their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 29th. Barclays restated an “overweight” rating and set a $170.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $172.24.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,560,845 shares of company stock valued at $360,351,849 over the last three months. 4.17% of the stock is owned by corporate insiders.

NVIDIA Trading Down 0.8%

Shares of NVIDIA stock opened at $142.83 on Thursday. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $153.13. The company has a market cap of $3.49 trillion, a price-to-earnings ratio of 56.21, a PEG ratio of 1.76 and a beta of 2.12. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $120.91 and its 200-day moving average price is $126.34.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. On average, equities analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

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.