Iowa State Bank Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Iowa State Bank lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,063 shares of the computer hardware maker’s stock after selling 1,338 shares during the period. NVIDIA comprises approximately 2.0% of Iowa State Bank’s holdings, making the stock its 11th largest position. Iowa State Bank’s holdings in NVIDIA were worth $9,436,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. General Pension Society PZU Joint Stock Co acquired a new stake in NVIDIA in the first quarter valued at about $4,010,000. JTC Employer Solutions Trustee Ltd lifted its position in NVIDIA by 200.9% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 362,128 shares of the computer hardware maker’s stock valued at $39,387,000 after purchasing an additional 241,791 shares during the period. Czech National Bank lifted its position in shares of NVIDIA by 5.8% during the 1st quarter. Czech National Bank now owns 5,625,493 shares of the computer hardware maker’s stock valued at $609,691,000 after acquiring an additional 308,653 shares during the period. Hoffman Alan N Investment Management lifted its position in shares of NVIDIA by 3.3% during the 1st quarter. Hoffman Alan N Investment Management now owns 11,156 shares of the computer hardware maker’s stock valued at $1,209,000 after acquiring an additional 356 shares during the period. Finally, JGP Wealth Management LLC lifted its position in shares of NVIDIA by 4.2% during the 1st quarter. JGP Wealth Management LLC now owns 39,788 shares of the computer hardware maker’s stock valued at $4,312,000 after acquiring an additional 1,590 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, the director now directly owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This trade represents a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,560,845 shares of company stock valued at $360,351,849 in the last ninety days. Company insiders own 4.17% of the company’s stock.

NVIDIA Trading Down 0.8%

Shares of NVDA opened at $142.83 on Thursday. The stock has a fifty day moving average of $120.91 and a two-hundred day moving average of $126.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $3.49 trillion, a PE ratio of 56.21, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. 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 firm posted $0.61 earnings per share. The company’s revenue was up 69.2% on a year-over-year basis. As a group, analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NVDA shares. Raymond James lifted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 29th. TD Cowen lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Finally, Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $172.24.

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.