Canandaigua National Bank & Trust Co. Purchases 709 Shares of NVIDIA Co. (NASDAQ:NVDA)

Canandaigua National Bank & Trust Co. increased its position in NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the 3rd quarter, Holdings Channel reports. The firm owned 67,974 shares of the computer hardware maker’s stock after acquiring an additional 709 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in NVIDIA were worth $8,255,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NVDA. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA in the first quarter valued at approximately $27,000. HBC Financial Services PLLC acquired a new position in shares of NVIDIA during the first quarter valued at approximately $30,000. TCTC Holdings LLC purchased a new position in shares of NVIDIA in the first quarter worth about $82,000. Finally, Slocum Gordon & Co LLP purchased a new stake in NVIDIA in the 1st quarter valued at $98,000. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the completion of the sale, the chief executive officer now directly owns 76,854,995 shares in the company, valued at $7,981,391,230.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $103.85, for a total transaction of $12,462,000.00. Following the completion of the transaction, the chief executive officer now directly owns 76,854,995 shares of the company’s stock, valued at approximately $7,981,391,230.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,396,270 shares of company stock worth $279,825,927 in the last 90 days. 4.23% of the stock is owned by insiders.

Analysts Set New Price Targets

NVDA has been the subject of several research analyst reports. Bank of America raised their price target on NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Wedbush restated an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Truist Financial upped their target price on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Raymond James upped their price target on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.07.

NVIDIA Trading Up 0.5 %

NASDAQ:NVDA opened at $136.05 on Tuesday. NVIDIA Co. has a 1 year low of $44.90 and a 1 year high of $144.42. The stock has a market cap of $3.34 trillion, a price-to-earnings ratio of 63.87, a PEG ratio of 1.40 and a beta of 1.66. The business has a fifty day moving average of $125.45 and a 200-day moving average of $116.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last issued 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 return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 122.4% on a year-over-year basis. Equities analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

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

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA 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.