Chemung Canal Trust Co. Purchases New Shares in NVIDIA Co. (NASDAQ:NVDA)

Chemung Canal Trust Co. acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,593 shares of the computer hardware maker’s stock, valued at approximately $2,363,000.

Other large investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA during the 2nd quarter valued at $31,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA in the 4th quarter worth about $34,000. West Financial Advisors LLC bought a new position in shares of NVIDIA in the 3rd quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were 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 of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 2.6 %

Shares of NASDAQ:NVDA opened at $138.85 on Monday. NVIDIA Co. has a 52 week low of $66.25 and a 52 week high of $153.13. 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 company’s fifty day moving average is $134.52 and its 200-day moving average is $130.26. The company has a market capitalization of $3.40 trillion, a PE ratio of 54.64, a P/E/G ratio of 1.62 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Equities research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NVDA. UBS Group raised their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley reduced their price target on shares of NVIDIA from $166.00 to $152.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Citigroup raised their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Tigress Financial upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating and lifted their price objective for the company from $170.00 to $220.00 in a research report on Tuesday, January 28th. 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’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

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.