Ledyard National Bank Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Ledyard National Bank lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 26,627 shares of the computer hardware maker’s stock after buying an additional 2,497 shares during the period. Ledyard National Bank’s holdings in NVIDIA were worth $3,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the period. CGC Financial Services LLC acquired a new position in NVIDIA during the second quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter worth approximately $27,000. Finally, Quest Partners LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’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 value of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,036,986 shares of company stock valued at $240,602,399 over the last three months. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NVDA shares. Stifel Nicolaus upped their price objective on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company upped their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. The Goldman Sachs Group increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, HSBC raised their price target on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Down 1.2 %

Shares of NASDAQ:NVDA opened at $135.34 on Friday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The company’s fifty day moving average is $135.61 and its two-hundred day moving average is $123.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

NVIDIA 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.