CENTRAL TRUST Co Decreases Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

CENTRAL TRUST Co reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 558,760 shares of the computer hardware maker’s stock after selling 15,436 shares during the quarter. NVIDIA comprises 1.5% of CENTRAL TRUST Co’s portfolio, making the stock its 16th biggest holding. CENTRAL TRUST Co’s holdings in NVIDIA were worth $60,558,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of NVIDIA during the 4th quarter worth $43,515,504,000. GAMMA Investing LLC increased its holdings in NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp raised its position in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC raised its position in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock valued at $3,864,026,000 after purchasing an additional 23,948,733 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVDA has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Bank of America raised their price target on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. UBS Group reissued a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. DA Davidson increased their price objective on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Finally, Barclays boosted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.19.

Insider Activity

In related news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the transaction, the chief executive officer directly owned 75,323,225 shares of the company’s stock, valued at approximately $11,865,667,634.25. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director A Brooke Seawell sold 51,740 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the completion of the sale, the director directly owned 1,576,709 shares of the company’s stock, valued at $243,790,745.58. This trade represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,044,919 shares of company stock worth $584,414,209. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

NVDA opened at $159.28 on Friday. The company has a 50 day moving average of $136.38 and a two-hundred day moving average of $127.84. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $160.98. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.89 trillion, a P/E ratio of 51.38, a P/E/G ratio of 1.41 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period last year, the company posted $0.61 earnings per share. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) 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.