Ledyard National Bank Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Ledyard National Bank boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,028 shares of the computer hardware maker’s stock after buying an additional 190 shares during the quarter. Ledyard National Bank’s holdings in NVIDIA were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. LFA Lugano Financial Advisors SA purchased a new position in NVIDIA in the 4th quarter worth approximately $28,000. Criterion Capital Advisors LLC acquired a new position in shares of NVIDIA in the fourth quarter worth $28,000. Your Advocates Ltd. LLP acquired a new position in shares of NVIDIA in the third quarter worth $30,000. O Brien Wealth Partners LLC lifted its position in shares of NVIDIA by 139.5% during the 4th quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock worth $45,000 after purchasing an additional 53 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC lifted its position in shares of NVIDIA by 44.1% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after purchasing an additional 30 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NVDA. Wedbush reissued an “outperform” rating and issued a $1,000.00 price target on shares of NVIDIA in a research report on Tuesday, March 19th. Evercore ISI initiated coverage on shares of NVIDIA in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,160.00 target price for the company. Wells Fargo & Company upped their target price on shares of NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $900.00 target price on shares of NVIDIA in a report on Monday, March 4th. Finally, Morgan Stanley boosted their price target on shares of NVIDIA from $795.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Four equities research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $944.05.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $904.12 on Thursday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The company has a market cap 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 Co. has a fifty-two week low of $280.46 and a fifty-two week high of $974.00. The firm’s 50 day moving average is $872.36 and its two-hundred day moving average is $659.34.

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

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock valued at $52,689,898 over the last 90 days. Corporate insiders own 3.99% of the company’s stock.

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.