Trustmark National Bank Trust Department lowered its holdings in NVIDIA Co. (NASDAQ:NVDA) by 38.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,063 shares of the computer hardware maker’s stock after selling 658 shares during the quarter. Trustmark National Bank Trust Department’s holdings in NVIDIA were worth $280,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Accurate Investment Solutions Inc. lifted its position in shares of NVIDIA by 111.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 50 shares during the period. PrairieView Partners LLC bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $26,000. Stonebridge Financial Planning Group LLC bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $28,000. Howard Wealth Management LLC bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $28,000. Finally, Capital Wealth Alliance LLC bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $30,000. 68.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ NVDA traded down $13.77 during midday trading on Thursday, hitting $360.90. The stock had a trading volume of 8,931,377 shares, compared to its average volume of 13,769,907. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.29 and a quick ratio of 9.70. NVIDIA Co. has a fifty-two week low of $142.84 and a fifty-two week high of $380.00. The company’s 50-day simple moving average is $325.64 and its 200 day simple moving average is $266.29. The firm has a market cap of $222.26 billion, a P/E ratio of 67.46, a price-to-earnings-growth ratio of 3.22 and a beta of 1.38.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, May 21st. The computer hardware maker reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.44. NVIDIA had a return on equity of 28.59% and a net margin of 28.17%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. The firm’s quarterly revenue was up 38.7% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 6.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.18%. NVIDIA’s dividend payout ratio (DPR) is presently 13.94%.
A number of analysts have commented on the company. BidaskClub downgraded NVIDIA from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 29th. Wells Fargo & Co raised their price objective on NVIDIA from $360.00 to $430.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. raised their target price on NVIDIA from $305.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Sanford C. Bernstein raised their target price on NVIDIA from $360.00 to $415.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Finally, Nomura Instinet raised their target price on NVIDIA from $230.00 to $260.00 and gave the stock a “reduce” rating in a research report on Friday, May 22nd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and thirty-three have issued a buy rating to the company. NVIDIA has an average rating of “Buy” and a consensus price target of $344.73.
In other NVIDIA news, Director Tench Coxe sold 50,000 shares of NVIDIA stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $349.08, for a total transaction of $17,454,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director A Brooke Seawell sold 629 shares of NVIDIA stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $366.27, for a total value of $230,383.83. Following the transaction, the director now owns 16,159 shares in the company, valued at $5,918,556.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,376 shares of company stock valued at $45,103,807. 4.47% of the stock is owned by insiders.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets 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.
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