Canandaigua National Corp Purchases New Shares in NVIDIA Co. (NASDAQ:NVDA)

Canandaigua National Corp purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,088 shares of the computer hardware maker’s stock, valued at approximately $2,717,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in NVIDIA by 2.0% during the fourth quarter. BlackRock Inc. now owns 44,799,146 shares of the computer hardware maker’s stock worth $23,394,117,000 after buying an additional 871,896 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in NVIDIA by 76,947.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 7,303,326 shares of the computer hardware maker’s stock worth $307,000 after buying an additional 7,293,847 shares during the last quarter. Norges Bank purchased a new stake in NVIDIA during the fourth quarter worth about $3,076,228,000. Edgewood Management LLC increased its holdings in NVIDIA by 1.3% during the fourth quarter. Edgewood Management LLC now owns 5,077,121 shares of the computer hardware maker’s stock worth $2,651,273,000 after buying an additional 67,004 shares during the last quarter. Finally, Morgan Stanley increased its holdings in NVIDIA by 29.7% during the fourth quarter. Morgan Stanley now owns 4,695,110 shares of the computer hardware maker’s stock worth $2,451,789,000 after buying an additional 1,075,930 shares during the last quarter. 65.70% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on the stock. Wedbush lifted their target price on shares of NVIDIA from $600.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 25th. Truist lifted their target price on shares of NVIDIA from $672.00 to $700.00 in a research note on Thursday, February 25th. Cowen lifted their target price on shares of NVIDIA from $600.00 to $665.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. Oppenheimer lifted their target price on shares of NVIDIA from $600.00 to $700.00 and gave the stock an “outperform” rating in a research note on Thursday, February 25th. Finally, Mizuho lifted their target price on shares of NVIDIA from $605.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, March 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $593.56.

NVIDIA stock traded up $6.19 during mid-day trading on Thursday, reaching $571.93. 142,233 shares of the company traded hands, compared to its average volume of 8,266,496. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.92 and a quick ratio of 3.52. The firm’s 50 day moving average price is $534.84 and its 200 day moving average price is $535.31. The firm has a market capitalization of $354.60 billion, a price-to-earnings ratio of 92.59, a P/E/G ratio of 3.87 and a beta of 1.45. NVIDIA Co. has a 52-week low of $257.00 and a 52-week high of $614.90.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Tuesday, February 23rd. The computer hardware maker reported $3.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.81 by $0.29. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.83 billion. NVIDIA had a net margin of 25.89% and a return on equity of 32.61%. During the same period in the previous year, the firm earned $1.89 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 7.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 10th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Tuesday, March 9th. NVIDIA’s payout ratio is currently 13.94%.

In other news, Director Mark L. Perry sold 6,104 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $556.58, for a total value of $3,397,364.32. Following the sale, the director now directly owns 8,031 shares of the company’s stock, valued at approximately $4,469,893.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.47% of the stock is currently owned by insiders.

NVIDIA Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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