First National Bank of Mount Dora Trust Investment Services Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)


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First National Bank of Mount Dora Trust Investment Services lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 9.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,042 shares of the computer hardware maker’s stock after purchasing an additional 846 shares during the quarter. NVIDIA comprises about 1.9% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 16th largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in NVIDIA were worth $5,362,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Trust Asset Management LLC raised its holdings in NVIDIA by 81.2% in the 3rd quarter. Trust Asset Management LLC now owns 3,118 shares of the computer hardware maker’s stock valued at $1,688,000 after buying an additional 1,397 shares during the period. United Bank acquired a new stake in NVIDIA in the 3rd quarter valued at approximately $277,000. Peapack Gladstone Financial Corp raised its position in NVIDIA by 7.5% in the third quarter. Peapack Gladstone Financial Corp now owns 3,891 shares of the computer hardware maker’s stock valued at $2,106,000 after purchasing an additional 270 shares during the period. First City Capital Management Inc. lifted its stake in NVIDIA by 50.5% during the third quarter. First City Capital Management Inc. now owns 1,270 shares of the computer hardware maker’s stock worth $716,000 after purchasing an additional 426 shares in the last quarter. Finally, OLD Mission Capital LLC purchased a new position in shares of NVIDIA during the third quarter worth $293,000. Hedge funds and other institutional investors own 65.70% of the company’s stock.

NASDAQ:NVDA traded up $11.88 during trading hours on Thursday, reaching $577.62. 71,634 shares of the company were exchanged, compared to its average volume of 8,266,496. The stock has a 50 day simple moving average of $534.84 and a 200 day simple moving average of $535.31. NVIDIA Co. has a 52-week low of $257.00 and a 52-week high of $614.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.92 and a quick ratio of 3.52. The firm has a market cap of $358.12 billion, a price-to-earnings ratio of 92.59, a PEG ratio of 3.87 and a beta of 1.45.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Tuesday, February 23rd. The computer hardware maker reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.29. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.83 billion. NVIDIA had a net margin of 25.89% and a return on equity of 32.61%. During the same period in the previous year, the company posted $1.89 earnings per share. On average, analysts predict that NVIDIA Co. will post 7.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 10th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, March 9th. NVIDIA’s payout ratio is currently 13.94%.

In related news, Director Mark L. Perry sold 6,104 shares of NVIDIA stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $556.58, for a total value of $3,397,364.32. Following the completion of the transaction, the director now directly owns 8,031 shares in the company, valued at $4,469,893.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.47% of the company’s stock.

NVDA has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on NVIDIA from $605.00 to $625.00 and gave the company an “overweight” rating in a report on Friday, December 18th. JPMorgan Chase & Co. boosted their target price on NVIDIA from $605.00 to $660.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 3rd. Oppenheimer boosted their price target on shares of NVIDIA from $600.00 to $700.00 and gave the stock an “outperform” rating in a report on Thursday, February 25th. Wedbush raised their price objective on shares of NVIDIA from $600.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. Finally, Craig Hallum boosted their target price on shares of NVIDIA from $520.00 to $550.00 and gave the stock a “hold” rating in a research note on Thursday, February 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $593.56.

NVIDIA Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.

Further Reading: Market Timing

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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