Chemung Canal Trust Co. Sells 4,426 Shares of NVIDIA Corporation $NVDA

Key Points

• Chemung Canal Trust Co. reduced its NVIDIA stake by 12.4%, selling 4,426 shares and retaining 31,194 shares valued at approximately $6.24 million. NVIDIA represented about 1.2% of the firm’s portfolio.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $322.61. Recent targets ranged from $218 to $319, while institutional investors owned 65.27% of NVIDIA.
• NVIDIA reported quarterly revenue of $96.22 billion, up 105.9% year over year, and EPS of $2.22, exceeding estimates. The company also announced a $1.00 annualized dividend and authorized an $80 billion share-repurchase program, although insiders sold about $410.4 million of stock over the past 90 days.

Chemung Canal Trust Co. cut its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 12.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,194 shares of the computer hardware maker's stock after selling 4,426 shares during the period. NVIDIA makes up approximately 1.2% of Chemung Canal Trust Co.'s investment portfolio, making the stock its 20th largest position. Chemung Canal Trust Co.'s holdings in NVIDIA were worth $6,242,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NVDA. State Street Corp grew its position in NVIDIA by 1.2% during the fourth quarter. State Street Corp now owns 991,480,489 shares of the computer hardware maker's stock worth $184,911,111,000 after buying an additional 11,451,386 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NVIDIA by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 588,803,093 shares of the computer hardware maker's stock valued at $109,446,217,000 after acquiring an additional 3,383,441 shares during the period. Norges Bank acquired a new stake in shares of NVIDIA during the 4th quarter worth $62,244,133,000. Bank of America Corp DE increased its position in shares of NVIDIA by 2.1% in the first quarter. Bank of America Corp DE now owns 191,200,989 shares of the computer hardware maker's stock worth $33,345,453,000 after purchasing an additional 4,019,505 shares during the period. Finally, Legal & General Group Plc increased its position in shares of NVIDIA by 1.5% in the third quarter. Legal & General Group Plc now owns 181,203,035 shares of the computer hardware maker's stock worth $33,808,862,000 after purchasing an additional 2,609,560 shares during the period. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent analyst reports. UBS Group set a $300.00 price target on shares of NVIDIA and gave the stock a "buy" rating in a report on Thursday. China Renaissance started coverage on shares of NVIDIA in a research note on Friday, June 5th. They issued a "buy" rating and a $319.00 price objective on the stock. Craig Hallum boosted their price objective on shares of NVIDIA from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Itau BBA Securities cut their target price on NVIDIA from $256.00 to $218.00 in a research note on Wednesday, June 24th. Finally, Susquehanna reiterated a "positive" rating and issued a $275.00 price target (up from $250.00) on shares of NVIDIA in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus target price of $322.61.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 885,000 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $210.17, for a total transaction of $186,000,450.00. Following the completion of the sale, the director directly owned 5,207,271 shares in the company, valued at $1,094,412,146.07. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen C. Neal sold 15,500 shares of the business's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total transaction of $3,343,815.00. Following the completion of the transaction, the director owned 116,135 shares in the company, valued at approximately $25,053,803.55. The trade was a 11.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,900,500 shares of company stock worth $410,449,265. 3.94% of the stock is owned by insiders.

NVIDIA Stock Down 4.6%

NASDAQ:NVDA opened at $217.55 on Friday. NVIDIA Corporation has a one year low of $164.07 and a one year high of $236.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.59 and a quick ratio of 2.85. The company has a market cap of $5.24 trillion, a PE ratio of 27.50, a P/E/G ratio of 0.42 and a beta of 2.23. The firm's 50 day simple moving average is $208.09 and its 200 day simple moving average is $200.77.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.13. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The firm had revenue of $96.22 billion during the quarter, compared to the consensus estimate of $92.27 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The company's revenue for the quarter was up 105.9% on a year-over-year basis. On average, research analysts anticipate that NVIDIA Corporation will post 9.1 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, September 10th. NVIDIA's dividend payout ratio (DPR) is 15.31%.

NVIDIA declared that its board has initiated a share repurchase program on Wednesday, May 20th that allows the company to buyback $80.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

NVIDIA News Summary

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA reported fiscal Q2 revenue of approximately $96.2 billion, up 106% year over year and ahead of Wall Street expectations. Data-center revenue rose 117% to $89 billion, while adjusted EPS of $2.22 also exceeded consensus. The results reinforced that hyperscaler AI spending remains robust. Nvidia rises after signaling longer AI spending runway
• Positive Sentiment: Management guided to roughly $108 billion in fiscal Q3 revenue and indicated that fiscal 2028 sales could grow about 70%, well above the roughly 45% growth analysts had modeled. The forecast has shifted the debate from whether AI demand is slowing to whether NVIDIA and its suppliers can build enough capacity. Nvidia's 70% growth forecast
• Positive Sentiment: Several analysts raised their NVIDIA price targets following the results, including Wedbush, Truist, RBC and JPMorgan. The upgrades reflect expectations for sustained Blackwell demand, the Vera Rubin product ramp and strong order visibility through fiscal 2028. Wedbush lifts Nvidia price target
• Neutral Sentiment: NVIDIA is reportedly pursuing a roughly $12.9 billion acquisition of open-source AI platform Hugging Face. The deal could expand NVIDIA’s software ecosystem and improve visibility into future AI workloads, but reports indicate terms may not be finalized and the valuation is high relative to Hugging Face’s revenue. Nvidia agrees to buy Hugging Face report
• Negative Sentiment: Investors are locking in gains after NVIDIA’s strong post-earnings rally. The stock’s elevated valuation and proximity to record levels make it vulnerable to short-term profit-taking even though fundamentals remain strong. Nvidia AMD Intel stocks slide as investors take profits
• Negative Sentiment: Gross-margin expectations are moving lower toward roughly 72%–73% as NVIDIA absorbs higher memory, packaging and infrastructure costs. Management also said supply constraints remain significant, potentially limiting how much demand can immediately translate into revenue and cash flow.
• Negative Sentiment: Broader market pressure is coming from a more hawkish Federal Reserve outlook, while NVIDIA’s decision to exclude China data-center compute revenue from its forecast underscores continuing export-control and geopolitical risks. Reports that the company paused some revenue-sharing arrangements with AI cloud providers also raise questions about financing and customer ROI. Nvidia pauses revenue-sharing deals

About NVIDIA

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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