Canandaigua National Trust Co of Florida Reduces Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Canandaigua National Trust Co of Florida reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,198 shares of the computer hardware maker's stock after selling 2,002 shares during the quarter. NVIDIA accounts for about 1.2% of Canandaigua National Trust Co of Florida's holdings, making the stock its 16th biggest position. Canandaigua National Trust Co of Florida's holdings in NVIDIA were worth $1,322,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NVDA. Wealth Group Ltd. lifted its position in shares of NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick bought a new position in shares of NVIDIA during the fourth quarter valued at about $972,000. Capital & Planning LLC lifted its position in shares of NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after purchasing an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. lifted its position in shares of NVIDIA by 1.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after purchasing an additional 104 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in shares of NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after purchasing an additional 35,815 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Down 0.1%

Shares of NVIDIA stock traded down $0.24 during trading on Friday, hitting $173.50. The company's stock had a trading volume of 121,814,931 shares, compared to its average volume of 251,318,578. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company has a fifty day simple moving average of $150.19 and a two-hundred day simple moving average of $130.70. The company has a market capitalization of $4.23 trillion, a PE ratio of 55.97, a P/E/G ratio of 1.50 and a beta of 2.13. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $174.72.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate 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 business earned $0.61 earnings per share. Equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA's payout ratio is 1.29%.

Analysts Set New Price Targets

NVDA has been the topic of several research reports. DA Davidson lifted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Raymond James Financial lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Truist Financial lifted their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Piper Sandler reissued an "overweight" rating and issued a $180.00 price target (up previously 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 assigned a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus target price of $181.22.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,114,800 shares of company stock valued at $760,553,003 in the last quarter. 4.17% of the stock is owned by insiders.

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.