NVIDIA Corporation $NVDA is Penobscot Investment Management Company Inc.'s Largest Position

Key Points

• Penobscot Investment Management Company Inc. increased its NVIDIA holdings by 1.7%, making it the largest position in their portfolio, worth approximately $68.6 million.
• Analysts have generally rated NVIDIA positively, with five giving a Strong Buy rating and a target price range reaching up to $244.00.
• NVIDIA reported earnings of $1.05 per share for the last quarter, exceeding expectations and reflecting a year-over-year revenue increase of 55.6%.

Penobscot Investment Management Company Inc. increased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,204 shares of the computer hardware maker's stock after acquiring an additional 7,241 shares during the period. NVIDIA makes up about 5.9% of Penobscot Investment Management Company Inc.'s portfolio, making the stock its biggest holding. Penobscot Investment Management Company Inc.'s holdings in NVIDIA were worth $68,600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elevate Capital Advisors LLC grew its position in NVIDIA by 98.9% during the 2nd quarter. Elevate Capital Advisors LLC now owns 10,797 shares of the computer hardware maker's stock worth $1,706,000 after purchasing an additional 5,370 shares during the period. Signature Wealth Management Partners LLC grew its position in NVIDIA by 7.9% during the 2nd quarter. Signature Wealth Management Partners LLC now owns 18,170 shares of the computer hardware maker's stock worth $2,871,000 after purchasing an additional 1,325 shares during the period. Wells Trecaso Financial Group LLC grew its position in NVIDIA by 10.7% during the 2nd quarter. Wells Trecaso Financial Group LLC now owns 11,889 shares of the computer hardware maker's stock worth $1,878,000 after purchasing an additional 1,152 shares during the period. Yoder Wealth Management Inc. grew its position in NVIDIA by 18.7% during the 2nd quarter. Yoder Wealth Management Inc. now owns 9,484 shares of the computer hardware maker's stock worth $1,498,000 after purchasing an additional 1,496 shares during the period. Finally, AMF Tjanstepension AB grew its position in NVIDIA by 4.8% during the 2nd quarter. AMF Tjanstepension AB now owns 8,328,234 shares of the computer hardware maker's stock worth $1,315,791,000 after purchasing an additional 383,987 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Arete increased their price target on NVIDIA from $235.00 to $244.00 and gave the stock a "buy" rating in a research report on Tuesday, October 14th. Citigroup reaffirmed a "buy" rating and set a $210.00 price target (up from $200.00) on shares of NVIDIA in a research report on Tuesday, September 30th. Stifel Nicolaus increased their price target on NVIDIA from $202.00 to $212.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. BNP Paribas upgraded NVIDIA to a "hold" rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. restated a "buy" rating and issued a $215.00 price target on shares of NVIDIA in a research note on Friday, September 19th. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NVIDIA has an average rating of "Buy" and an average target price of $222.23.

NVIDIA Trading Down 0.8%

Shares of NVIDIA stock opened at $181.16 on Wednesday. The stock has a market cap of $4.40 trillion, a P/E ratio of 51.61, a P/E/G ratio of 1.32 and a beta of 2.12. The stock's 50 day simple moving average is $179.37 and its 200-day simple moving average is $154.43. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $195.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.04. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The business had revenue of $46.74 billion for the quarter, compared to analysts' expectations of $45.65 billion. During the same period in the previous year, the firm posted $0.68 EPS. The business's revenue for the quarter was up 55.6% compared to the same quarter last year. NVIDIA has set its Q3 2026 guidance at EPS. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Thursday, September 11th. NVIDIA's dividend payout ratio is 1.14%.

Insiders Place Their Bets

In other NVIDIA news, Director Harvey C. Jones sold 250,000 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the transaction, the director directly owned 7,183,280 shares in the company, valued at $1,265,765,768.80. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.16, for a total value of $13,362,000.00. Following the transaction, the chief executive officer owned 73,523,225 shares in the company, valued at $13,098,897,766. 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 3,753,937 shares of company stock worth $669,548,776 over the last ninety days. Corporate insiders own 4.17% of the company's stock.

About NVIDIA

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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