Citizens National Bank Trust Department Purchases 6,287 Shares of NVIDIA Co. (NASDAQ:NVDA)

Citizens National Bank Trust Department raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,352 shares of the computer hardware maker’s stock after purchasing an additional 6,287 shares during the period. NVIDIA comprises 1.9% of Citizens National Bank Trust Department’s portfolio, making the stock its 11th biggest position. Citizens National Bank Trust Department’s holdings in NVIDIA were worth $9,029,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares in the last quarter. CGC Financial Services LLC bought a new position in shares of NVIDIA in the 2nd quarter worth $26,000. Quest Partners LLC purchased a new stake in shares of NVIDIA during the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the third quarter valued at about $27,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in NVIDIA in the second quarter valued at about $31,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVDA has been the subject of a number of analyst reports. Piper Sandler increased their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Needham & Company LLC increased their price objective on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Citigroup boosted their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their price target on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Stifel Nicolaus lifted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity

In other news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the transaction, the director now directly owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. The trade was a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,628,156 shares of company stock worth $197,995,077 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 1.2 %

Shares of NASDAQ NVDA opened at $130.39 on Wednesday. The stock has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 51.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The firm has a 50-day moving average price of $139.79 and a 200 day moving average price of $127.07. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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

NVIDIA Announces Dividend

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

NVIDIA announced that its board has initiated a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Company 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.