MidWestOne Financial Group Inc. Trims Position in NVIDIA Co. (NASDAQ:NVDA)

MidWestOne Financial Group Inc. lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 30.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,029 shares of the computer hardware maker’s stock after selling 3,511 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in NVIDIA were worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NVDA. Greenwood Gearhart Inc. raised its position in NVIDIA by 15.2% during the 3rd quarter. Greenwood Gearhart Inc. now owns 267,472 shares of the computer hardware maker’s stock worth $32,482,000 after buying an additional 35,195 shares during the last quarter. Valued Retirements Inc. acquired a new position in shares of NVIDIA during the third quarter worth about $866,000. 3Chopt Investment Partners LLC raised its holdings in NVIDIA by 6.2% during the third quarter. 3Chopt Investment Partners LLC now owns 159,780 shares of the computer hardware maker’s stock worth $19,405,000 after purchasing an additional 9,275 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in NVIDIA in the third quarter valued at about $207,000. Finally, Brophy Wealth Management LLC purchased a new stake in NVIDIA in the 3rd quarter valued at approximately $7,153,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVDA stock opened at $137.71 on Tuesday. The company has a market cap of $3.37 trillion, a PE ratio of 54.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64. NVIDIA Co. has a 12-month low of $56.11 and a 12-month high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $138.99 and a two-hundred day moving average price of $129.05.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 EPS. As a group, research analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVDA. Stifel Nicolaus increased their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. increased their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Phillip Securities restated an “accumulate” rating and set a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Wells Fargo & Company increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, HSBC reduced their price objective on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $164.63.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Profile

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.