NVIDIA Co. (NASDAQ:NVDA) Shares Sold by 1ST Source Bank

1ST Source Bank cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,139 shares of the computer hardware maker’s stock after selling 1,014 shares during the quarter. 1ST Source Bank’s holdings in NVIDIA were worth $4,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVDA. Bank Julius Baer & Co. Ltd Zurich increased its holdings in NVIDIA by 84,165.9% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,389,779,605 shares of the computer hardware maker’s stock worth $587,904,569,000 after purchasing an additional 1,388,130,327 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $3,900,874,000. Moneta Group Investment Advisors LLC increased its holdings in shares of NVIDIA by 160,446.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares during the last quarter. GQG Partners LLC bought a new stake in shares of NVIDIA in the 1st quarter valued at approximately $2,290,856,000. Finally, Morgan Stanley increased its holdings in shares of NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after acquiring an additional 4,621,002 shares during the last quarter. 64.79% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NVIDIA stock opened at $492.98 on Monday. The firm’s 50 day simple moving average is $444.17 and its 200-day simple moving average is $424.16. The company has a market cap of $1.22 trillion, a P/E ratio of 119.08, a price-to-earnings-growth ratio of 3.80 and a beta of 1.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. NVIDIA Co. has a fifty-two week low of $138.84 and a fifty-two week high of $502.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The firm had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm’s revenue was up 101.5% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Co. will post 9.66 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s payout ratio is presently 3.86%.

Analyst Ratings Changes

NVDA has been the subject of a number of research analyst reports. Benchmark boosted their price target on NVIDIA from $475.00 to $625.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Bank of America boosted their price target on NVIDIA from $550.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Oppenheimer increased their target price on NVIDIA from $500.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Rosenblatt Securities restated a “buy” rating on shares of NVIDIA in a research report on Wednesday, September 20th. Finally, HSBC increased their price objective on shares of NVIDIA from $600.00 to $780.00 and gave the stock a “buy” rating in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $571.49.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the transaction, the chief executive officer now directly owns 7,800,125 shares of the company’s stock, valued at $3,678,148,943.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total value of $13,999,376.40. Following the completion of the sale, the chief executive officer now directly owns 7,800,125 shares in the company, valued at $3,678,148,943.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the sale, the director now owns 1,030,786 shares of the company’s stock, valued at $482,490,310.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,232 shares of company stock valued at $67,606,089. Corporate insiders own 3.99% of the company’s stock.

About NVIDIA

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.