Connable Office Inc. Cuts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Connable Office Inc. lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,099 shares of the computer hardware maker’s stock after selling 4,073 shares during the period. NVIDIA makes up approximately 1.5% of Connable Office Inc.’s holdings, making the stock its 14th largest holding. Connable Office Inc.’s holdings in NVIDIA were worth $14,517,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVDA. Clear Street Derivatives LLC bought a new stake in NVIDIA in the third quarter valued at approximately $4,589,905,000. Proficio Capital Partners LLC increased its stake in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after buying an additional 34,441,082 shares during the period. Geode Capital Management LLC raised its holdings in NVIDIA by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after buying an additional 11,525,969 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in NVIDIA by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after buying an additional 6,526,200 shares during the period. Finally, National Pension Service grew its holdings in NVIDIA by 14.9% in the 3rd quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock worth $5,734,483,000 after acquiring an additional 6,118,674 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Summit Insights downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Thursday. Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Finally, William Blair reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.89.

Insider Activity

In other news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,609 shares of company stock valued at $22,642,615 in the last ninety days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Down 7.4 %

Shares of NASDAQ:NVDA opened at $94.31 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $195.95. The company has a market cap of $2.30 trillion, a P/E ratio of 37.12, a PEG ratio of 1.76 and a beta of 1.96. The stock’s fifty day moving average price is $121.20 and its 200-day moving average price is $131.07.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. Sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is presently 1.36%.

NVIDIA Company 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.