First Command Bank Acquires 78 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 11th, 2023

First Command Bank increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 5.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,628 shares of the computer hardware maker’s stock after purchasing an additional 78 shares during the period. First Command Bank’s holdings in NVIDIA were worth $689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its position in NVIDIA by 84,165.9% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,389,779,605 shares of the computer hardware maker’s stock valued at $587,904,569,000 after acquiring an additional 1,388,130,327 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of NVIDIA by 0.6% in the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock worth $12,763,663,000 after buying an additional 267,061 shares during the last quarter. Morgan Stanley raised its holdings in shares of NVIDIA by 20.2% in the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after buying an additional 4,621,002 shares during the last quarter. Norges Bank purchased a new position in shares of NVIDIA in the fourth quarter worth $3,900,874,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of NVIDIA by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 21,702,416 shares of the computer hardware maker’s stock worth $6,028,280,000 after buying an additional 322,662 shares during the last quarter. Hedge funds and other institutional investors own 64.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NVDA. UBS Group raised their price target on shares of NVIDIA from $540.00 to $560.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Westpark Capital raised shares of NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a report on Thursday, August 24th. Benchmark raised their target price on shares of NVIDIA from $475.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Rosenblatt Securities reissued a “buy” rating on shares of NVIDIA in a report on Wednesday, September 20th. Finally, KeyCorp raised their target price on shares of NVIDIA from $670.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $558.95.

Get Our Latest Stock Analysis on NVIDIA

NVIDIA Trading Up 1.2 %

Shares of NVIDIA stock opened at $457.98 on Wednesday. The firm has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 110.62, a PEG ratio of 3.55 and a beta of 1.76. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $502.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79. The stock has a 50 day moving average of $448.64 and a 200 day moving average of $389.41.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.62. The company had revenue of $13.51 billion during the quarter, compared to analyst estimates of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. As a group, research analysts predict that NVIDIA Co. will post 9.54 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors 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 yield of 0.03%. NVIDIA’s payout ratio is 3.86%.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the transaction, the chief executive officer now directly owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the transaction, the chief executive officer now directly owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the transaction, the director now owns 1,030,786 shares in the company, valued at $482,490,310.88. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock worth $67,606,089 over the last ninety days. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Company Profile

(Free Report)

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.