Bangor Savings Bank Purchases 5,277 Shares of NVIDIA Co. (NASDAQ:NVDA)

Bangor Savings Bank boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 60.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,006 shares of the computer hardware maker’s stock after buying an additional 5,277 shares during the quarter. Bangor Savings Bank’s holdings in NVIDIA were worth $1,881,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NVDA. Quest Partners LLC acquired a new position in NVIDIA in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the second quarter worth approximately $31,000. West Financial Advisors LLC purchased a new position in shares of NVIDIA during the 3rd quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. grew its position in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research reports. Susquehanna upped their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Barclays increased their price target on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research note on Wednesday, January 8th. Finally, Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Stock Performance

Shares of NVDA opened at $142.62 on Friday. The company’s 50 day simple moving average is $138.72 and its 200-day simple moving average is $129.57. NVIDIA Co. has a 12-month low of $60.57 and a 12-month high of $153.13. The firm has a market cap of $3.49 trillion, a PE ratio of 56.13, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 over the last ninety days. Corporate insiders own 4.23% 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.