First Command Bank Has $586,000 Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Mar 30th, 2023

First Command Bank increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 383.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,010 shares of the computer hardware maker’s stock after purchasing an additional 3,180 shares during the quarter. First Command Bank’s holdings in NVIDIA were worth $586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. Vanguard Group Inc. increased its stake in shares of NVIDIA by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock valued at $24,732,878,000 after buying an additional 2,326,387 shares during the period. State Street Corp increased its position in NVIDIA by 0.9% in the third quarter. State Street Corp now owns 98,751,264 shares of the computer hardware maker’s stock worth $11,987,416,000 after purchasing an additional 908,481 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in NVIDIA by 7.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 56,929,819 shares of the computer hardware maker’s stock worth $8,629,991,000 after purchasing an additional 3,813,087 shares during the last quarter. Legal & General Group Plc lifted its position in NVIDIA by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 18,243,948 shares of the computer hardware maker’s stock valued at $2,765,602,000 after purchasing an additional 764,184 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of NVIDIA by 3.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 14,612,261 shares of the computer hardware maker’s stock valued at $2,215,073,000 after purchasing an additional 467,060 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $269.84 on Thursday. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $226.75 and its 200 day simple moving average is $174.03. NVIDIA Co. has a 1-year low of $108.13 and a 1-year high of $289.46. The company has a market cap of $666.50 billion, a price-to-earnings ratio of 155.08, a PEG ratio of 4.71 and a beta of 1.76.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. NVIDIA had a net margin of 16.19% and a return on equity of 26.61%. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the business earned $1.14 EPS. NVIDIA’s revenue for the quarter was down 20.8% compared to the same quarter last year. On average, research analysts forecast that NVIDIA Co. will post 3.22 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date of this dividend was Tuesday, March 7th. NVIDIA’s payout ratio is presently 9.20%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark L. Perry sold 20,000 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $236.37, for a total value of $4,727,400.00. Following the transaction, the director now directly owns 140,000 shares in the company, valued at $33,091,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Debora Shoquist sold 23,532 shares of NVIDIA stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $205.00, for a total transaction of $4,824,060.00. Following the completion of the sale, the executive vice president now directly owns 162,944 shares of the company’s stock, valued at approximately $33,403,520. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark L. Perry sold 20,000 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $236.37, for a total value of $4,727,400.00. Following the completion of the transaction, the director now directly owns 140,000 shares in the company, valued at $33,091,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 232,773 shares of company stock worth $41,275,700. Company insiders own 4.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVDA. Robert W. Baird boosted their price target on shares of NVIDIA from $230.00 to $300.00 in a research note on Monday, March 20th. The Goldman Sachs Group raised NVIDIA from a “neutral” rating to a “buy” rating and increased their price target for the company from $162.00 to $275.00 in a research note on Thursday, February 23rd. KeyCorp lifted their price objective on NVIDIA from $220.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, February 17th. Raymond James reissued a “strong-buy” rating and issued a $290.00 target price on shares of NVIDIA in a research note on Thursday, March 2nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $320.00 target price on shares of NVIDIA in a research report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.72.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.