Penobscot Wealth Management Sells 797 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Penobscot Wealth Management trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA) by 14.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,688 shares of the computer hardware maker’s stock after selling 797 shares during the period. Penobscot Wealth Management’s holdings in NVIDIA were worth $508,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NVDA. Condor Capital Management grew its stake in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after purchasing an additional 89 shares during the last quarter. Kelly Financial Services LLC grew its stake in NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock valued at $513,000 after purchasing an additional 94 shares during the last quarter. Foundry Financial Group Inc. grew its stake in NVIDIA by 2.2% during the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock valued at $589,000 after purchasing an additional 96 shares during the last quarter. Mendel Capital Management LLC grew its stake in NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock valued at $1,287,000 after purchasing an additional 96 shares during the last quarter. Finally, Wallace Hart LLC grew its stake in NVIDIA by 3.9% during the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock valued at $349,000 after purchasing an additional 97 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 27,650 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares of the company’s stock, valued at approximately $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $169.54, for a total value of $12,715,500.00. Following the completion of the sale, the chief executive officer directly owned 74,123,225 shares of the company’s stock, valued at approximately $12,566,851,566.50. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,114,800 shares of company stock valued at $760,553,003. 4.17% of the stock is currently owned by insiders.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $173.50 on Friday. The business has a 50 day simple moving average of $150.95 and a two-hundred day simple moving average of $130.86. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.72. The stock has a market capitalization of $4.23 trillion, a P/E ratio of 55.97, a PEG ratio of 1.53 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

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

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.29%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVDA. Barclays boosted their price target on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Raymond James Financial boosted their price target on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. Phillip Securities upgraded NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 14th. Finally, Mizuho set a $192.00 target price on NVIDIA and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Company 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.