NVIDIA Co. (NASDAQ:NVDA) Stock Position Lessened by Connective Portfolio Management LLC

Connective Portfolio Management LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,985 shares of the computer hardware maker’s stock after selling 3,400 shares during the quarter. NVIDIA comprises about 4.8% of Connective Portfolio Management LLC’s investment portfolio, making the stock its biggest holding. Connective Portfolio Management LLC’s holdings in NVIDIA were worth $3,221,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter valued at $27,000. Quest Partners LLC purchased a new stake in NVIDIA in the second quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA in the second quarter worth about $31,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter worth about $34,000. Finally, West Financial Advisors LLC bought a new position in NVIDIA in the third quarter worth about $36,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Tigress Financial upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating and upped their price objective for the company from $170.00 to $220.00 in a report on Tuesday, January 28th. UBS Group increased their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. DA Davidson increased their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Piper Sandler increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.23.

NVIDIA Stock Down 3.7 %

NVDA stock opened at $120.07 on Monday. The company has a market cap of $2.94 trillion, a P/E ratio of 47.25, a P/E/G ratio of 2.23 and a beta of 1.64. NVIDIA Co. has a 52 week low of $60.70 and a 52 week high of $153.13. The company’s 50-day moving average price is $136.58 and its 200 day moving average price is $129.33. 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 announced 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 net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were 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 of the company’s stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Company insiders own 4.23% of the company’s stock.

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.