Kennebec Savings Bank Reduces Stake in NVIDIA Co. (NASDAQ:NVDA)

Kennebec Savings Bank decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,253 shares of the computer hardware maker’s stock after selling 99 shares during the period. NVIDIA comprises approximately 2.6% of Kennebec Savings Bank’s investment portfolio, making the stock its 6th biggest holding. Kennebec Savings Bank’s holdings in NVIDIA were worth $2,565,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Palisade Asset Management LLC grew its stake in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares during the last quarter. Blue Square Asset Management LLC lifted its position in shares of NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after buying an additional 10,136 shares during the last quarter. Narwhal Capital Management boosted its holdings in shares of NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after buying an additional 26,373 shares in the last quarter. Tybourne Capital Management HK Ltd. grew its position in shares of NVIDIA by 46.7% in the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock worth $2,043,000 after buying an additional 5,360 shares during the last quarter. Finally, Unique Wealth LLC raised its stake in shares of NVIDIA by 10.0% during the 4th quarter. Unique Wealth LLC now owns 37,629 shares of the computer hardware maker’s stock worth $5,053,000 after acquiring an additional 3,428 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 2.8 %

Shares of NVDA stock opened at $126.63 on Wednesday. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The firm has a market capitalization of $3.10 trillion, a P/E ratio of 49.83, a PEG ratio of 1.76 and a beta of 1.62. The stock’s fifty day moving average is $134.55 and its two-hundred day moving average is $131.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NVDA shares. UBS Group raised their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler increased their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. DA Davidson boosted their target price on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Benchmark reiterated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Tuesday, January 7th. Finally, Barclays boosted their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $168.21.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA 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 transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,107,632 shares of company stock valued at $146,405,286. Corporate insiders own 4.23% of the company’s stock.

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.