Hanson & Doremus Investment Management Has $859,000 Holdings in NVIDIA Co. (NASDAQ:NVDA)

Hanson & Doremus Investment Management lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1,058.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,950 shares of the computer hardware maker’s stock after purchasing an additional 6,350 shares during the period. Hanson & Doremus Investment Management’s holdings in NVIDIA were worth $859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the 1st quarter worth $27,000. HBC Financial Services PLLC acquired a new position in NVIDIA during the 1st quarter worth $30,000. Norwood Financial Corp acquired a new position in NVIDIA during the 1st quarter worth $45,000. Finally, Coston McIsaac & Partners lifted its position in NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total value of $14,068,800.00. Following the transaction, the chief executive officer now directly owns 78,054,995 shares in the company, valued at $9,151,167,613.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total value of $14,068,800.00. Following the transaction, the chief executive officer now directly owns 78,054,995 shares in the company, valued at $9,151,167,613.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,996,270 shares of company stock worth $347,729,127 over the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA stock opened at $138.00 on Friday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.89. The firm’s 50 day moving average is $121.88 and its 200-day moving average is $112.19. The firm has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 80.70, a PEG ratio of 1.20 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the business earned $0.25 earnings per share. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVDA. Piper Sandler reissued an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Melius Research boosted their price objective on shares of NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Evercore ISI boosted their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Truist Financial boosted their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Finally, Raymond James boosted their price objective on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.