Penobscot Investment Management Company Inc. Has $22.10 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Penobscot Investment Management Company Inc. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,630 shares of the computer hardware maker’s stock after selling 595 shares during the quarter. NVIDIA makes up 2.6% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 3rd largest position. Penobscot Investment Management Company Inc.’s holdings in NVIDIA were worth $22,102,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NVDA. International Assets Investment Management LLC boosted its position in NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Vanguard Group Inc. boosted its holdings in shares of NVIDIA by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after buying an additional 2,287,471 shares during the period. California Public Employees Retirement System grew its stake in NVIDIA by 31.8% in the 4th quarter. California Public Employees Retirement System now owns 7,477,385 shares of the computer hardware maker’s stock valued at $3,702,951,000 after buying an additional 1,805,763 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in NVIDIA in the 3rd quarter valued at about $728,543,000. Finally, Assenagon Asset Management S.A. lifted its position in NVIDIA by 99.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock worth $1,037,437,000 after acquiring an additional 1,189,495 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NVIDIA stock opened at $904.12 on Thursday. The business has a 50 day moving average of $872.36 and a 200-day moving average of $659.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. NVIDIA Co. has a 1 year low of $280.46 and a 1 year high of $974.00. The company has a market capitalization of $2.26 trillion, a P/E ratio of 75.72, a P/E/G ratio of 1.27 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s quarterly revenue was up 265.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, equities research analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.34%.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at $1,931,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at $1,931,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the sale, the director now directly owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock worth $52,689,898 in the last quarter. Company insiders own 3.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NVDA shares. Benchmark reiterated a “buy” rating and set a $1,000.00 target price on shares of NVIDIA in a research note on Wednesday, March 20th. Needham & Company LLC lifted their target price on NVIDIA from $600.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Sanford C. Bernstein boosted their target price on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. DA Davidson raised their price target on shares of NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $944.05.

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.