Canandaigua National Trust Co of Florida increased its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,200 shares of the computer hardware maker's stock after buying an additional 2,148 shares during the quarter. NVIDIA comprises about 1.5% of Canandaigua National Trust Co of Florida's portfolio, making the stock its 16th biggest position. Canandaigua National Trust Co of Florida's holdings in NVIDIA were worth $1,907,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ironwood Wealth Management LLC. raised its stake in shares of NVIDIA by 896.9% in the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker's stock worth $782,000 after purchasing an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. raised its position in NVIDIA by 900.0% in the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker's stock valued at $445,000 after buying an additional 3,240 shares during the last quarter. Tobam lifted its stake in NVIDIA by 811.4% during the 2nd quarter. Tobam now owns 41,489 shares of the computer hardware maker's stock valued at $5,126,000 after acquiring an additional 36,937 shares in the last quarter. Heritage Family Offices LLP purchased a new position in NVIDIA during the 2nd quarter worth $257,000. Finally, Abacus Planning Group Inc. grew its stake in shares of NVIDIA by 1,194.4% in the 2nd quarter. Abacus Planning Group Inc. now owns 28,231 shares of the computer hardware maker's stock worth $3,488,000 after acquiring an additional 26,050 shares in the last quarter. Institutional investors own 65.27% of the company's stock.
Insiders Place Their Bets
In other news, EVP Ajay K. Puri sold 36,462 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Dabiri sold 716 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares of the company's stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Company insiders own 4.23% of the company's stock.
Wall Street Analysts Forecast Growth
NVDA has been the topic of several analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Melius Research boosted their target price on NVIDIA from $165.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Loop Capital reaffirmed a "buy" rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. The Goldman Sachs Group boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Finally, Morgan Stanley raised their target price on NVIDIA from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $164.63.
Read Our Latest Stock Report on NVIDIA
NVIDIA Stock Down 3.1 %
NVDA traded down $4.60 during trading on Friday, hitting $142.62. 233,633,878 shares of the company's stock traded hands, compared to its average volume of 176,080,944. NVIDIA Co. has a 12-month low of $60.57 and a 12-month high of $153.13. The company's 50 day simple moving average is $138.72 and its two-hundred day simple moving average is $129.55. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 56.13, a PEG ratio of 2.65 and a beta of 1.64.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA's revenue for the quarter was up 93.6% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. Analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA's dividend payout ratio is currently 1.57%.
About NVIDIA
(
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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