Concord Wealth Partners Sells 26,023 Shares of NVIDIA Co. (NASDAQ:NVDA)

Concord Wealth Partners cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,800 shares of the computer hardware maker’s stock after selling 26,023 shares during the quarter. NVIDIA accounts for 4.1% of Concord Wealth Partners’ portfolio, making the stock its 4th largest position. Concord Wealth Partners’ holdings in NVIDIA were worth $25,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA during the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA in the 4th quarter valued at $34,000. West Financial Advisors LLC bought a new position in NVIDIA during the third quarter worth about $36,000. Finally, Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the 4th quarter worth approximately $40,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NVDA opened at $120.15 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The stock has a market capitalization of $2.94 trillion, a P/E ratio of 47.28, a P/E/G ratio of 1.76 and a beta of 1.62. The company has a 50 day moving average of $134.39 and a 200-day moving average of $131.81.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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 firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.57%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NVDA shares. TD Cowen lifted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. UBS Group upped their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Rosenblatt Securities restated a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research report on Monday. DA Davidson reiterated a “neutral” rating and set a $135.00 target price on shares of NVIDIA in a research report on Thursday. Finally, Melius Research raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $169.62.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,107,632 shares of company stock valued at $146,405,286. 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.