Bangor Savings Bank Acquires 5,162 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Bangor Savings Bank grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 36.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,168 shares of the computer hardware maker’s stock after buying an additional 5,162 shares during the quarter. Bangor Savings Bank’s holdings in NVIDIA were worth $2,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Tacita Capital Inc purchased a new position in NVIDIA in the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the 4th quarter valued at $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA during the 4th quarter valued at $40,000. Copia Wealth Management bought a new position in NVIDIA in the fourth quarter valued at $50,000. Finally, LSV Asset Management bought a new position in NVIDIA in the fourth quarter valued at $54,000. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director now directly owns 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 190,000 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.51, for a total transaction of $27,076,900.00. Following the completion of the sale, the director now directly owns 8,855,848 shares in the company, valued at $1,262,046,898.48. This trade represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,469,685 shares of company stock valued at $349,669,962. Insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NVDA. HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. Oppenheimer reiterated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Monday, June 16th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. TD Cowen increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.05.

NVIDIA Trading Down 1.1%

NASDAQ:NVDA opened at $143.83 on Friday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market cap of $3.51 trillion, a P/E ratio of 46.40, a P/E/G ratio of 1.28 and a beta of 2.12. The firm has a 50-day simple moving average of $126.37 and a 200-day simple moving average of $126.69.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company’s revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 EPS. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

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.