Canandaigua National Trust Co of Florida Has $1.91 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Canandaigua National Trust Co of Florida increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 17.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,200 shares of the computer hardware maker’s stock after acquiring an additional 2,148 shares during the period. NVIDIA comprises about 1.5% of Canandaigua National Trust Co of Florida’s investment portfolio, making the stock its 16th biggest position. Canandaigua National Trust Co of Florida’s holdings in NVIDIA were worth $1,907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of NVIDIA during the second quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the 3rd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the 2nd quarter worth about $31,000. West Financial Advisors LLC bought a new stake in NVIDIA during the 3rd quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Melius Research boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Stifel Nicolaus boosted their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Robert W. Baird boosted their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Bank of America reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Price Performance

NVIDIA stock opened at $142.62 on Friday. The firm has a market capitalization of $3.49 trillion, a P/E ratio of 56.13, a PEG ratio of 2.65 and a beta of 1.64. NVIDIA Co. has a one year low of $60.57 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a fifty day moving average price of $138.72 and a 200-day moving average price of $129.57.

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

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

Insiders Place Their Bets

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 directly owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now 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 a total of 1,108,348 shares of company stock valued at $146,506,958 in the last quarter. 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.