Chemung Canal Trust Co. Boosts Holdings in NVIDIA Corporation $NVDA

Chemung Canal Trust Co. raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 239.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,016 shares of the computer hardware maker’s stock after buying an additional 23,987 shares during the quarter. NVIDIA comprises approximately 1.1% of Chemung Canal Trust Co.’s holdings, making the stock its 29th largest position. Chemung Canal Trust Co.’s holdings in NVIDIA were worth $5,374,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. lifted its stake in NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after purchasing an additional 254 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of NVIDIA in the first quarter worth about $51,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the second quarter worth about $55,000. Campbell Capital Management Inc. lifted its position in shares of NVIDIA by 5,900.0% in the first quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker’s stock worth $65,000 after buying an additional 590 shares in the last quarter. Finally, Luken Investment Analytics LLC boosted its stake in NVIDIA by 107.0% during the first quarter. Luken Investment Analytics LLC now owns 621 shares of the computer hardware maker’s stock valued at $67,000 after buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 350,000 shares of NVIDIA stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $176.39, for a total transaction of $61,736,500.00. Following the completion of the sale, the director owned 7,399,803 shares in the company, valued at $1,305,251,251.17. This trade represents a 4.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.16, for a total transaction of $13,362,000.00. Following the completion of the sale, the chief executive officer directly owned 73,523,225 shares of the company’s stock, valued at approximately $13,098,897,766. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,801,577 shares of company stock valued at $678,643,875 in the last 90 days. Company insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wolfe Research lifted their price objective on NVIDIA from $220.00 to $230.00 in a research note on Tuesday, September 23rd. New Street Research boosted their price target on shares of NVIDIA from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. The Goldman Sachs Group set a $210.00 price target on shares of NVIDIA and gave the company a “buy” rating in a research note on Monday, October 6th. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective (up from $200.00) on shares of NVIDIA in a research note on Thursday, August 28th. Finally, Evercore ISI upped their target price on shares of NVIDIA from $214.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. Five investment analysts have rated the stock with a Strong Buy rating, forty have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $222.23.

NVIDIA Trading Up 1.0%

NVDA opened at $182.16 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.60 and a current ratio of 4.21. The stock’s 50 day moving average price is $179.35 and its 200-day moving average price is $155.20. NVIDIA Corporation has a one year low of $86.62 and a one year high of $195.62. The stock has a market cap of $4.43 trillion, a price-to-earnings ratio of 51.90, a P/E/G ratio of 1.30 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The firm had revenue of $46.74 billion during the quarter, compared to analyst estimates of $45.65 billion. During the same period last year, the company earned $0.68 EPS. NVIDIA’s quarterly revenue was up 55.6% compared to the same quarter last year. NVIDIA has set its Q3 2026 guidance at EPS. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were issued a $0.01 dividend. The ex-dividend date was Thursday, September 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is presently 1.14%.

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.