UMB Bank n.a. Sells 9,613 Shares of NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 16th, 2023

UMB Bank n.a. lessened its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 10.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,843 shares of the computer hardware maker’s stock after selling 9,613 shares during the period. UMB Bank n.a.’s holdings in NVIDIA were worth $35,467,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Prosperity Consulting Group LLC grew its position in shares of NVIDIA by 5.0% in the 2nd quarter. Prosperity Consulting Group LLC now owns 1,733 shares of the computer hardware maker’s stock valued at $733,000 after buying an additional 83 shares during the last quarter. Roman Butler Fullerton & Co. grew its position in shares of NVIDIA by 2.0% in the 2nd quarter. Roman Butler Fullerton & Co. now owns 10,843 shares of the computer hardware maker’s stock valued at $5,105,000 after buying an additional 211 shares during the last quarter. O ROURKE & COMPANY Inc bought a new stake in shares of NVIDIA in the 2nd quarter valued at about $223,000. DBK Financial Counsel LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at about $265,000. Finally, APEIRON CAPITAL Ltd acquired a new position in shares of NVIDIA in the 2nd quarter valued at about $4,913,000. Institutional investors own 64.79% of the company’s stock.

NVIDIA Stock Down 3.2 %

Shares of NASDAQ NVDA opened at $454.61 on Monday. The business has a 50-day simple moving average of $449.79 and a two-hundred day simple moving average of $393.58. NVIDIA Co. has a 52 week low of $112.04 and a 52 week high of $502.66. The company has a market cap of $1.12 trillion, a P/E ratio of 109.81, a P/E/G ratio of 3.52 and a beta of 1.76. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31.

NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.62. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the firm posted $0.32 EPS. The company’s revenue was up 101.5% compared to the same quarter last year. Research analysts anticipate that NVIDIA Co. will post 9.54 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 3.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Tigress Financial boosted their price objective on NVIDIA from $320.00 to $560.00 in a research note on Friday, July 7th. TD Cowen boosted their price objective on NVIDIA from $600.00 to $700.00 and gave the company an “outperform” rating in a research note on Wednesday, October 11th. Raymond James boosted their price objective on NVIDIA from $500.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 24th. Oppenheimer boosted their price objective on NVIDIA from $500.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. Finally, BMO Capital Markets increased their price target on NVIDIA from $450.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-five have given 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 target price of $561.45.

Get Our Latest Analysis on NVIDIA

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 21,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the transaction, the director now directly owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other NVIDIA news, CFO Colette Kress sold 4,980 shares of NVIDIA stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $460.74, for a total value of $2,294,485.20. Following the transaction, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction that occurred 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 completion of the transaction, the director now directly 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 a total of 145,232 shares of company stock valued at $67,606,089 in the last 90 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.