First National Bank of Mount Dora Trust Investment Services grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 9.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 10,042 shares of the computer hardware maker’s stock after purchasing an additional 846 shares during the quarter. NVIDIA makes up 1.9% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 16th largest position. First National Bank of Mount Dora Trust Investment Services’ holdings in NVIDIA were worth $5,362,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in NVDA. Private Asset Management Inc. bought a new stake in shares of NVIDIA during the 1st quarter worth $435,000. M&R Capital Management Inc. lifted its position in NVIDIA by 323.0% during the 1st quarter. M&R Capital Management Inc. now owns 1,565 shares of the computer hardware maker’s stock worth $835,000 after acquiring an additional 1,195 shares during the last quarter. Everhart Financial Group Inc. bought a new stake in NVIDIA during the fourth quarter valued at about $304,000. Bard Financial Services Inc. acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $2,240,000. Finally, Legacy Wealth Asset Management LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $902,000. Institutional investors and hedge funds own 65.70% of the company’s stock.
In other news, Director Mark L. Perry sold 6,104 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $556.58, for a total value of $3,397,364.32. Following the transaction, the director now owns 8,031 shares of the company’s stock, valued at $4,469,893.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.47% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Tuesday, February 23rd. The computer hardware maker reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.29. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.83 billion. NVIDIA had a return on equity of 32.61% and a net margin of 25.89%. During the same quarter last year, the firm posted $1.89 EPS. Sell-side analysts expect that NVIDIA Co. will post 7.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Wednesday, March 10th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, March 9th. This represents a $0.64 dividend on an annualized basis and a yield of 0.11%. NVIDIA’s dividend payout ratio (DPR) is currently 13.94%.
Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on NVIDIA from $605.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, December 18th. Raymond James boosted their price objective on NVIDIA from $600.00 to $700.00 and gave the company an “outperform” rating in a research report on Wednesday, March 3rd. Cascend Securities lifted their target price on shares of NVIDIA from $620.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, March 3rd. Mizuho increased their price objective on NVIDIA from $605.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of NVIDIA from $550.00 to $560.00 and gave the stock a “hold” rating in a report on Monday, March 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $593.56.
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.
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