Penobscot Investment Management Company Inc. lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 426,963 shares of the computer hardware maker's stock after selling 14,250 shares during the quarter. NVIDIA accounts for 4.4% of Penobscot Investment Management Company Inc.'s holdings, making the stock its 3rd largest holding. Penobscot Investment Management Company Inc.'s holdings in NVIDIA were worth $46,274,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Condor Capital Management boosted its stake in shares of NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after acquiring an additional 89 shares in the last quarter. Kelly Financial Services LLC lifted its stake in NVIDIA by 2.0% in the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after acquiring an additional 94 shares in the last quarter. Macroview Investment Management LLC lifted its stake in NVIDIA by 2.9% in the 4th quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker's stock worth $461,000 after acquiring an additional 96 shares in the last quarter. Foundry Financial Group Inc. lifted its stake in NVIDIA by 2.2% in the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock worth $589,000 after acquiring an additional 96 shares in the last quarter. Finally, Wallace Hart LLC lifted its stake in NVIDIA by 3.9% in the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock worth $349,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.
Insider Buying and Selling
In related news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,814,800 shares of company stock worth $709,172,753 over the last 90 days. 4.17% of the stock is currently owned by insiders.
NVIDIA Stock Down 0.3%
NVDA stock traded down $0.59 during trading hours on Friday, reaching $172.41. 145,724,125 shares of the stock were exchanged, compared to its average volume of 264,006,945. The firm's 50-day moving average is $145.88 and its 200-day moving average is $129.63. The company has a market cap of $4.21 trillion, a price-to-earnings ratio of 55.62, a PEG ratio of 1.51 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.16.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. On average, equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Bank of America lifted their price objective on NVIDIA from $180.00 to $220.00 in a research report on Wednesday. Benchmark reissued a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Raymond James Financial lifted their price objective on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Finally, Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $181.22.
Check Out Our Latest Analysis on NVIDIA
NVIDIA 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.
Read More
Before you consider NVIDIA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NVIDIA wasn't on the list.
While NVIDIA currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
