NVIDIA Corporation $NVDA Shares Sold by Glenview Trust Co

Glenview Trust Co decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDAFree Report) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,151,629 shares of the computer hardware maker’s stock after selling 80,632 shares during the quarter. NVIDIA accounts for about 9.1% of Glenview Trust Co’s holdings, making the stock its biggest holding. Glenview Trust Co’s holdings in NVIDIA were worth $587,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Longfellow Investment Management Co. LLC boosted its holdings in shares of NVIDIA by 47.9% during the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after acquiring an additional 67 shares during the period. Spurstone Advisory Services LLC acquired a new position in shares of NVIDIA during the second quarter valued at $40,000. Syntax Research Inc. boosted its holdings in shares of NVIDIA by 62.5% during the fourth quarter. Syntax Research Inc. now owns 260 shares of the computer hardware maker’s stock valued at $49,000 after acquiring an additional 100 shares during the period. Sellwood Investment Partners LLC acquired a new position in shares of NVIDIA during the third quarter valued at $50,000. Finally, Networth Advisors LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at $51,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA stock opened at $205.10 on Monday. The company has a market capitalization of $4.96 trillion, a P/E ratio of 31.41, a PEG ratio of 0.46 and a beta of 2.22. The company has a 50-day simple moving average of $203.37 and a 200 day simple moving average of $190.58. NVIDIA Corporation has a fifty-two week low of $140.85 and a fifty-two week high of $236.54. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.04.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, topping the consensus estimate of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The firm had revenue of $81.62 billion for the quarter, compared to analysts’ expectations of $78.42 billion. During the same period in the previous year, the business earned $0.81 earnings per share. NVIDIA’s revenue for the quarter was up 85.2% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Corporation will post 8.61 earnings per share for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 20th that allows the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Thursday, June 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. This is a boost from NVIDIA’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, June 4th. NVIDIA’s dividend payout ratio (DPR) is presently 15.31%.

Key Stories Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

Insider Transactions at NVIDIA

In other NVIDIA news, Director Stephen C. Neal sold 15,500 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total value of $3,343,815.00. Following the sale, the director directly owned 116,135 shares in the company, valued at approximately $25,053,803.55. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 20,000 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $174.89, for a total transaction of $3,497,800.00. Following the completion of the sale, the chief financial officer owned 83,060 shares in the company, valued at approximately $14,526,363.40. This trade represents a 19.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,922,461 shares of company stock valued at $387,385,083 in the last quarter. 3.94% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVDA. Craig Hallum boosted their price target on shares of NVIDIA from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Piper Sandler reaffirmed an “overweight” rating on shares of NVIDIA in a report on Thursday, February 26th. Citigroup started coverage on shares of NVIDIA in a report on Wednesday, April 15th. They issued a “buy” rating for the company. UBS Group upped their price objective on shares of NVIDIA from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of NVIDIA in a report on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Buy” and an average price target of $305.67.

View Our Latest Stock Report on NVIDIA

About NVIDIA

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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