NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,924 shares of the computer hardware maker’s stock after purchasing an additional 866 shares during the period. NVIDIA makes up approximately 1.0% of Independence Bank of Kentucky’s investment portfolio, making the stock its 19th largest holding. Independence Bank of Kentucky’s holdings in NVIDIA were worth $2,934,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. LFA Lugano Financial Advisors SA acquired a new position in NVIDIA during the fourth quarter worth about $28,000. Peoples Financial Services CORP. acquired a new position in NVIDIA during the third quarter worth about $30,000. Your Advocates Ltd. LLP acquired a new position in NVIDIA during the third quarter worth about $30,000. Quarry LP acquired a new position in NVIDIA during the first quarter worth about $34,000. Finally, Compass Wealth Management LLC acquired a new position in NVIDIA during the fourth quarter worth about $39,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Tigress Financial lifted their price target on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. UBS Group lifted their price target on NVIDIA from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler Companies lifted their price target on NVIDIA to $850.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Morgan Stanley lifted their price target on NVIDIA from $750.00 to $795.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, TD Cowen lifted their price target on NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $911.18.

NVIDIA Stock Down 1.0 %

NVDA opened at $871.33 on Tuesday. The business has a 50 day moving average price of $811.39 and a 200 day moving average price of $597.90. NVIDIA Co. has a twelve month low of $262.20 and a twelve month high of $974.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The firm has a market cap of $2.18 trillion, a P/E ratio of 72.98, a price-to-earnings-growth ratio of 1.27 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the company earned $0.65 EPS. The company’s revenue for the quarter was up 265.3% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio is currently 1.34%.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 35,648 shares of NVIDIA stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $542.93, for a total value of $19,354,368.64. Following the transaction, the director now directly owns 1,189,083 shares of the company’s stock, valued at approximately $645,588,833.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other NVIDIA news, Director Mark A. Stevens sold 36,000 shares of NVIDIA stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $546.95, for a total value of $19,690,200.00. Following the transaction, the director now directly owns 1,134,583 shares of the company’s stock, valued at approximately $620,560,171.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 35,648 shares of NVIDIA stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $542.93, for a total value of $19,354,368.64. Following the completion of the transaction, the director now directly owns 1,189,083 shares in the company, valued at $645,588,833.19. The disclosure for this sale can be found here. Insiders have sold a total of 110,226 shares of company stock valued at $71,759,148 in the last three months. Company insiders own 3.99% of the company’s stock.

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.