Horizon Bancorp Inc. IN Reduces Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Horizon Bancorp Inc. IN reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,018 shares of the computer hardware maker’s stock after selling 1,045 shares during the period. NVIDIA accounts for about 0.6% of Horizon Bancorp Inc. IN’s investment portfolio, making the stock its 19th largest position. Horizon Bancorp Inc. IN’s holdings in NVIDIA were worth $977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp grew its position in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 4.0%

NVDA opened at $170.70 on Wednesday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $172.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock has a market capitalization of $4.17 trillion, a PE ratio of 55.06, a P/E/G ratio of 1.45 and a beta of 2.13. The firm’s fifty day moving average price is $143.67 and its 200 day moving average price is $129.10.

NVIDIA (NASDAQ:NVDA) last issued its 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,767,150 shares of company stock worth $701,030,045. 4.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wedbush reissued an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Oppenheimer increased their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday. TD Cowen boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Rosenblatt Securities upped their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Finally, Mizuho set a $192.00 price target on shares of NVIDIA in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $177.92.

NVIDIA 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.