Penobscot Wealth Management Acquires 447 Shares of NVIDIA Co. (NASDAQ:NVDA)

Penobscot Wealth Management boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,485 shares of the computer hardware maker’s stock after buying an additional 447 shares during the period. Penobscot Wealth Management’s holdings in NVIDIA were worth $737,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Tacita Capital Inc bought a new position in shares of NVIDIA in the fourth quarter worth about $28,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter worth about $34,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the fourth quarter worth $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA in the fourth quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the 4th quarter valued at approximately $46,000. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NVDA shares. Truist Financial raised their price target on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Susquehanna reaffirmed a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Wedbush reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday. Finally, DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.51.

NVIDIA Stock Performance

NASDAQ NVDA opened at $101.33 on Friday. The business’s 50-day moving average price is $117.19 and its 200 day moving average price is $129.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.47 trillion, a P/E ratio of 39.88, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $195.95.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

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.