Farmers & Merchants Trust Co of Chambersburg PA increased its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 14.4% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund held 8,769 shares of the hardware maker after buying an additional 1,105 shares during the quarter. NVIDIA represents 1.5% of the holdings of Farmers & Merchants Trust Co of Chambersburg PA, making the stock its 20th largest position. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in NVIDIA were worth $2,393,000 when it last filed with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. Fortune 45 LLC increased its stake in NVIDIA shares by 18.3% in Q1. Fortune 45 LLC now owns 1,471 shares of the hardware maker valued at $401,000 after buying 228 additional shares in the last quarter. Sheets Smith Investment Management acquired a new stake in NVIDIA during Q4 valued at $3,597,000. Meadow Creek Wealth Advisors LLC increased its stake in NVIDIA by 24.6% in Q1. Meadow Creek Wealth Advisors LLC now owns 4,141 shares of the hardware maker valued at $1,130,000 after buying 818 additional shares in the last quarter. Ascension Asset Management LLC increased its stake in NVIDIA by 300.0% during the third quarter. Ascension Asset Management LLC now owns 19,540 shares of the hardware maker valued at $4,048,000 after buying an additional 14,655 shares in the last quarter. Finally, Mason & Associates Inc acquired a new stake in NVIDIA during the 4th quarter at a value of $711,000. 55.19% of the shares are held by institutional investors.
NVDA has been the subject of several research reports. Credit Suisse Group cut its price target on NVIDIA to $205.00 in a Thursday, May 26 report. Susquehanna Bancshares cut its price target on NVIDIA from $280.00 to $260.00 and set a “positive” rating for the company in a Thursday, May 26 report. KeyCorp cut its price target on NVIDIA from $310.00 to $250.00 and set an “overweight” rating for the company in a Thursday, May 26 report. The Goldman Sachs Group launched coverage on NVIDIA in a Monday, March 7 report. They set a “neutral” rating and a target price of $245.00 for the company. Finally, Atlantic Securities lowered its target price on NVIDIA to $205.00 in a Thursday, May 26 report. Seven investment analysts gave the stock a hold rating, twenty-seven gave the company a buy rating and one gave the company a high buy rating. Based on MarketBeat data, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $270.97.
Separately, director John Dabiri sold 2,200 shares of the company in a deal that took place on Friday, May 27. The stock was sold at an average price of $185.59, for a total transaction of $408,298.00. Following the completion of the sale, the administrator now owns 2,712 shares of the company, valued at $503,320.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Additionally, director Tench Coxe sold 100,000 shares of the company in a trade that took place on Monday, March 28. The shares were sold at an average price of $274.06, for a total value of $27,406,000.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 239,694 shares of the company worth $50,256,524. Insiders hold 4.04% of the shares of the company.
NVDA shares opened at $171.26 on Friday. The company’s 50-day moving average price is $180.53 and its 200-day moving average price is $230.36. NVIDIA Co. has a 12-month low of $153.28 and a 12-month high of $346.47. The company has a market capitalization of $428.15 billion, a price/earnings ratio of 45.91, a PEG ratio of 2.18 and a beta of 1.59. The company has a current ratio of 5.32, a quick ratio of 4.75 and a debt ratio of 0.42.
NVIDIA (NASDAQ:NVDA – Get Rating) last released quarterly earnings data on Wednesday, May 25. The hardware maker reported EPS of $1.36 for the quarter, beating analyst consensus estimates of $1.29 by $0.07. The company posted revenue of $8.29 billion for the quarter, versus analyst estimates of $8.09 billion. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The company’s quarterly revenue increased 46.4% year over year. In the same period a year earlier, the company earned earnings per share of $0.78. On average, sell-side analysts expect NVIDIA Co. to post earnings per share of 4.54 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Thursday, June 9 will receive a dividend of $0.04. This represents an annualized dividend of $0.16 and a yield of 0.09%. The ex-dividend date is Wednesday, June 8. NVIDIA’s dividend payout ratio (DPR) is currently 4.29%.
About NVIDIA (Get a rating)
NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. The Company’s Graphics segment offers GeForce GPUs for games and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.
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