Canandaigua National Bank & Trust Co. lessened its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,911 shares of the computer hardware maker's stock after selling 4,858 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in NVIDIA were worth $7,035,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Centerpoint Advisory Group grew its holdings in NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after buying an additional 943 shares during the period. GSB Wealth Management LLC grew its holdings in shares of NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after purchasing an additional 1,043 shares during the period. Variant Private Wealth LLC lifted its position in NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after acquiring an additional 3,206 shares in the last quarter. Financial Perspectives Inc lifted its position in NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after acquiring an additional 1,265 shares in the last quarter. Finally, Hickory Point Bank & Trust acquired a new position in shares of NVIDIA in the 4th quarter valued at approximately $2,272,000. Institutional investors and hedge funds own 65.27% of the company's stock.
Insider Buying and Selling
In related news, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares of the company's stock, valued at $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $169.54, for a total value of $12,715,500.00. Following the sale, the chief executive officer directly owned 74,123,225 shares of the company's stock, valued at approximately $12,566,851,566.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,114,800 shares of company stock valued at $760,553,003 over the last three months. Company insiders own 4.17% of the company's stock.
NVIDIA Price Performance
NVDA stock traded down $0.24 during midday trading on Friday, reaching $173.50. 121,814,931 shares of the company's stock traded hands, compared to its average volume of 162,110,176. The company has a 50-day simple moving average of $150.95 and a two-hundred day simple moving average of $130.86. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.72. The company has a market cap of $4.23 trillion, a price-to-earnings ratio of 55.97, a PEG ratio of 1.53 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 earnings per share. On average, analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Loop Capital increased their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. TD Cowen increased their price target on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $181.22.
View Our Latest Research Report on NVIDIA
NVIDIA Company Profile
(
Free Report)
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.
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