NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Equitable Trust Co.

Equitable Trust Co. decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.9% in the 2nd quarter, Holdings Channel reports. The firm owned 12,749 shares of the computer hardware maker’s stock after selling 1,559 shares during the quarter. Equitable Trust Co.’s holdings in NVIDIA were worth $5,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Von Berge Wealth Management Group LLC grew its position in shares of NVIDIA by 2.6% during the second quarter. Von Berge Wealth Management Group LLC now owns 930 shares of the computer hardware maker’s stock worth $393,000 after acquiring an additional 24 shares during the last quarter. DBK Financial Counsel LLC bought a new position in NVIDIA in the 2nd quarter valued at about $265,000. IFM Investors Pty Ltd grew its position in NVIDIA by 4.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 488,552 shares of the computer hardware maker’s stock valued at $206,667,000 after buying an additional 22,809 shares in the last quarter. Mayport LLC grew its position in NVIDIA by 69.6% in the 2nd quarter. Mayport LLC now owns 1,833 shares of the computer hardware maker’s stock valued at $775,000 after buying an additional 752 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC bought a new position in NVIDIA in the 2nd quarter valued at about $489,000. Institutional investors own 64.79% of the company’s stock.

NVIDIA Trading Up 2.3 %

Shares of NVDA stock opened at $504.09 on Tuesday. NVIDIA Co. has a 12 month low of $138.84 and a 12 month high of $505.48. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $445.22 and its two-hundred day moving average is $425.77. The company has a market cap of $1.25 trillion, a PE ratio of 121.76, a price-to-earnings-growth ratio of 3.80 and a beta of 1.69.

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

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NVDA shares. KeyCorp cut their price target on shares of NVIDIA from $750.00 to $650.00 and set an “overweight” rating for the company in a report on Friday, October 20th. Bank of America upped their price target on shares of NVIDIA from $550.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Jefferies Financial Group upped their price target on shares of NVIDIA from $500.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, August 24th. BNP Paribas raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price target for the company in a report on Thursday, August 24th. Finally, Susquehanna upped their price target on shares of NVIDIA from $575.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $571.49.

Insider Activity

In other news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was 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 of the company’s stock, valued at $3,678,148,943.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the completion of the sale, the chief financial officer now owns 499,428 shares of the company’s stock, valued at $230,106,456.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is owned by company insiders.

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.