Peoples Financial Services CORP. Boosts Stake in NVIDIA Corporation (NASDAQ:NVDA)

Peoples Financial Services CORP. boosted its stake in NVIDIA Corporation (NASDAQ:NVDA) by 72.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,350 shares of the computer hardware maker’s stock after acquiring an additional 567 shares during the period. Peoples Financial Services CORP.’s holdings in NVIDIA were worth $146,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Astoria Portfolio Advisors LLC. lifted its stake in NVIDIA by 0.9% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker’s stock valued at $9,610,000 after buying an additional 864 shares in the last quarter. Centerpoint Advisory Group raised its position in shares of NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock worth $4,270,000 after buying an additional 943 shares during the period. GSB Wealth Management LLC increased its holdings in NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock valued at $3,534,000 after purchasing an additional 1,043 shares in the last quarter. Variant Private Wealth LLC increased its holdings in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock valued at $2,038,000 after purchasing an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc grew its stake in shares of NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock valued at $4,981,000 after acquiring an additional 1,265 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on 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 sale, the director owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,339,800 shares of company stock valued at $800,141,003. Insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $180.00 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.30. The company has a 50 day simple moving average of $156.27 and a 200 day simple moving average of $132.58. The stock has a market cap of $4.39 trillion, a price-to-earnings ratio of 58.06, a P/E/G ratio of 1.53 and a beta of 2.14.

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 the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business 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 earnings per share. The company’s revenue was up 69.2% compared to the same quarter last year. Research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is 1.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NVDA shares. Bank of America increased their price target on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Barclays upped their price target on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Arete Research raised NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Finally, 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 note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $182.03.

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.