Cape ANN Savings Bank Purchases 7,938 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cape ANN Savings Bank lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 58.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,618 shares of the computer hardware maker’s stock after acquiring an additional 7,938 shares during the period. NVIDIA makes up about 1.5% of Cape ANN Savings Bank’s portfolio, making the stock its 16th largest holding. Cape ANN Savings Bank’s holdings in NVIDIA were worth $2,625,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mezzasalma Advisors LLC lifted its stake in shares of NVIDIA by 21.1% in the first quarter. Mezzasalma Advisors LLC now owns 13,013 shares of the computer hardware maker’s stock worth $11,758,000 after acquiring an additional 2,267 shares during the period. Kesler Norman & Wride LLC lifted its stake in NVIDIA by 76.1% in the first quarter. Kesler Norman & Wride LLC now owns 5,478 shares of the computer hardware maker’s stock valued at $4,950,000 after buying an additional 2,368 shares during the period. Maryland State Retirement & Pension System lifted its stake in NVIDIA by 0.6% in the first quarter. Maryland State Retirement & Pension System now owns 185,778 shares of the computer hardware maker’s stock valued at $156,879,000 after buying an additional 1,181 shares during the period. American Institute for Advanced Investment Management LLP lifted its stake in NVIDIA by 5.1% in the first quarter. American Institute for Advanced Investment Management LLP now owns 826 shares of the computer hardware maker’s stock valued at $746,000 after buying an additional 40 shares during the period. Finally, Benchmark Financial Wealth Advisors LLC lifted its stake in NVIDIA by 2.3% in the first quarter. Benchmark Financial Wealth Advisors LLC now owns 6,593 shares of the computer hardware maker’s stock valued at $5,957,000 after buying an additional 150 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at $8,459,373,085.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the sale, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $147.63 on Friday. The firm has a market capitalization of $3.62 trillion, a P/E ratio of 69.25, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $127.27 and its two-hundred day simple moving average is $117.94. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. As a group, equities analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current fiscal year.

NVIDIA announced that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NVDA. Bank of America boosted their price objective on NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. Benchmark restated a “buy” rating and set a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Mizuho boosted their price objective on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. HSBC upped their price target on NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC upped their price target on NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.07.

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.