Connable Office Inc. Has $14.52 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Connable Office Inc. lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing 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 1.5% of Connable Office Inc.'s portfolio, making the stock its 14th biggest position. Connable Office Inc.'s holdings in NVIDIA were worth $14,517,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NVDA. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the fourth quarter valued at about $34,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $40,000. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the 4th quarter worth approximately $46,000. 1620 Investment Advisors Inc. boosted its holdings in NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker's stock worth $51,000 after acquiring an additional 248 shares during the period. Finally, Gleason Group Inc. grew its position in NVIDIA by 52.9% in the fourth quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker's stock valued at $58,000 after acquiring an additional 148 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NVDA shares. Susquehanna reaffirmed a "positive" rating and set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Barclays raised their price objective on NVIDIA from $160.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Morgan Stanley set a $162.00 target price on NVIDIA and gave the company an "overweight" rating in a research note on Wednesday, March 19th. DZ Bank upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Finally, DA Davidson decreased their target price on NVIDIA from $135.00 to $125.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $169.89.

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Insider Activity

In other NVIDIA news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock valued at $17,133,207 in the last quarter. Company insiders own 4.23% of the company's stock.

NVIDIA Trading Up 3.5 %

NVDA stock traded up $3.33 during midday trading on Monday, reaching $97.64. The stock had a trading volume of 605,975,624 shares, compared to its average volume of 313,976,024. The firm has a market cap of $2.38 trillion, a price-to-earnings ratio of 38.43, a PEG ratio of 1.76 and a beta of 1.96. 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 $195.95. The business has a fifty day simple moving average of $121.20 and a two-hundred day simple moving average of $131.19.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $38.16 billion. As a group, research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given 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 dividend yield of 0.04%. NVIDIA's dividend payout ratio is 1.36%.

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.