First United Bank & Trust Sells 755 Shares of NVIDIA Corporation (NASDAQ:NVDA)

First United Bank & Trust trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,658 shares of the computer hardware maker’s stock after selling 755 shares during the period. NVIDIA comprises 1.3% of First United Bank & Trust’s holdings, making the stock its 22nd biggest holding. First United Bank & Trust’s holdings in NVIDIA were worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Tacita Capital Inc bought a new position in NVIDIA in the fourth quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the 4th quarter worth $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the 4th quarter worth $40,000. Copia Wealth Management purchased a new position in shares of NVIDIA during the fourth quarter valued at $50,000. Finally, LSV Asset Management purchased a new stake in NVIDIA in the fourth quarter worth about $54,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

NVDA opened at $154.31 on Thursday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $154.45. The firm has a 50 day moving average of $128.75 and a two-hundred day moving average of $126.78. The firm has a market capitalization of $3.77 trillion, a PE ratio of 49.78, a P/E/G ratio of 1.31 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. On average, analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Insider Activity

In related news, Director A Brooke Seawell sold 55,282 shares of the business’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $144.71, for a total value of $7,999,858.22. Following the completion of the transaction, the director now directly owns 1,944,718 shares in the company, valued at $281,420,141.78. The trade was a 2.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 50,000 shares of the firm’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $144.26, for a total transaction of $7,213,000.00. Following the sale, the chief executive officer now owns 75,723,225 shares in the company, valued at approximately $10,923,832,438.50. This represents a 0.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,393,863 shares of company stock valued at $483,709,832 in the last quarter. 4.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NVDA has been the topic of a number of research reports. Citigroup reissued a “buy” rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. TD Cowen boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $175.78.

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.