Essex Savings Bank Decreases Stake in NVIDIA Co. (NASDAQ:NVDA)

Essex Savings Bank lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 16.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,633 shares of the computer hardware maker’s stock after selling 9,494 shares during the quarter. NVIDIA accounts for 1.4% of Essex Savings Bank’s investment portfolio, making the stock its 14th largest position. Essex Savings Bank’s holdings in NVIDIA were worth $5,785,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the third quarter valued at $27,000. CGC Financial Services LLC purchased a new position in NVIDIA in the 2nd quarter valued at about $26,000. Quest Partners LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA during the second quarter worth about $31,000. Finally, FPC Investment Advisory Inc. raised its position in shares of NVIDIA by 900.0% in the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of analyst reports. Truist Financial raised their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Barclays raised their price objective on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. TD Cowen upped their target price on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, Craig Hallum lifted their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,391,886 shares of company stock worth $181,666,050 over the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.4 %

NASDAQ NVDA opened at $140.22 on Wednesday. The company has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.18, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The company’s fifty day moving average price is $139.66 and its two-hundred day moving average price is $127.49.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business 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%. The company’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 earnings per share. As a group, research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed 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 dividend payout ratio is presently 1.57%.

NVIDIA announced that its board has authorized a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.