Penobscot Investment Management Company Inc. reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,785 shares of the computer hardware maker’s stock after selling 100 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in NVIDIA were worth $293,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of NVIDIA by 1.8% during the first quarter. FMR LLC now owns 49,860,097 shares of the computer hardware maker’s stock worth $8,952,880,000 after buying an additional 858,116 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of NVIDIA by 10.6% during the first quarter. Jennison Associates LLC now owns 7,857,550 shares of the computer hardware maker’s stock worth $1,410,902,000 after buying an additional 753,001 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of NVIDIA by 16.0% during the first quarter. Baillie Gifford & Co. now owns 7,647,342 shares of the computer hardware maker’s stock worth $1,373,156,000 after buying an additional 1,052,689 shares during the last quarter. Northern Trust Corp increased its position in shares of NVIDIA by 1.4% during the first quarter. Northern Trust Corp now owns 6,952,640 shares of the computer hardware maker’s stock valued at $1,248,416,000 after purchasing an additional 94,198 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of NVIDIA by 10.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,456,518 shares of the computer hardware maker’s stock valued at $567,664,000 after purchasing an additional 315,383 shares during the period. Hedge funds and other institutional investors own 67.54% of the company’s stock.
NASDAQ:NVDA traded up $10.79 during trading hours on Friday, reaching $159.56. The company had a trading volume of 25,199,000 shares, compared to its average volume of 9,067,289. The stock has a 50-day moving average of $163.66 and a two-hundred day moving average of $163.39. The company has a quick ratio of 7.78, a current ratio of 8.98 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $91.39 billion, a PE ratio of 26.29, a PEG ratio of 3.84 and a beta of 2.07. NVIDIA Co. has a one year low of $124.46 and a one year high of $292.76.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, August 15th. The computer hardware maker reported $1.24 EPS for the quarter, topping the consensus estimate of $0.87 by $0.37. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. NVIDIA had a return on equity of 31.27% and a net margin of 30.68%. The business’s revenue for the quarter was down 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.94 earnings per share. As a group, sell-side analysts expect that NVIDIA Co. will post 4.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 29th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.40%. NVIDIA’s payout ratio is presently 10.54%.
In other news, Director Harvey C. Jones sold 100,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $145.10, for a total transaction of $14,510,000.00. Following the transaction, the director now owns 32,983 shares of the company’s stock, valued at $4,785,833.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 2,236 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $164.01, for a total value of $366,726.36. Following the transaction, the chief financial officer now directly owns 239,710 shares in the company, valued at approximately $39,314,837.10. The disclosure for this sale can be found here. Insiders have sold 104,736 shares of company stock worth $15,293,726 in the last 90 days. Company insiders own 4.64% of the company’s stock.
A number of analysts have recently issued reports on NVDA shares. Barclays lowered their price objective on NVIDIA from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday. Morgan Stanley boosted their price objective on NVIDIA from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday. Zacks Investment Research cut NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. BMO Capital Markets restated a “market perform” rating and set a $145.00 price objective on shares of NVIDIA in a research report on Friday. Finally, Wells Fargo & Co restated a “buy” rating on shares of NVIDIA in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $193.04.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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