Plimoth Trust Co. LLC Has $14.38 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Plimoth Trust Co. LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 118,426 shares of the computer hardware maker’s stock after purchasing an additional 1,702 shares during the period. NVIDIA makes up 3.6% of Plimoth Trust Co. LLC’s portfolio, making the stock its 3rd largest holding. Plimoth Trust Co. LLC’s holdings in NVIDIA were worth $14,382,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after acquiring an additional 13,135 shares during the last quarter. Intermede Investment Partners Ltd purchased a new stake in shares of NVIDIA during the first quarter valued at $153,294,000. ARK & TLK Investments LLC increased its stake in NVIDIA by 6.6% in the 1st quarter. ARK & TLK Investments LLC now owns 803 shares of the computer hardware maker’s stock worth $726,000 after buying an additional 50 shares during the period. Forge First Asset Management Inc. bought a new stake in NVIDIA during the 1st quarter valued at about $5,451,000. Finally, M&G Plc purchased a new stake in NVIDIA in the 1st quarter valued at about $20,886,000. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NVDA shares. Craig Hallum raised their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Tuesday, August 6th. UBS Group increased their price target on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Finally, Sanford C. Bernstein increased their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Down 1.2 %

NASDAQ:NVDA opened at $135.34 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company’s fifty day moving average price is $135.61 and its 200-day moving average price is $123.34. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The firm has a market capitalization of $3.31 trillion, a P/E ratio of 53.28, a PEG ratio of 2.46 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results 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 company had revenue of $35.08 billion for 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%. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Announces Dividend

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

NVIDIA announced that its board has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares in the company, valued at $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,036,986 shares of company stock worth $240,602,399. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Company 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.