Concord Wealth Partners Has $9.81 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Concord Wealth Partners lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 15.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,803 shares of the computer hardware maker’s stock after purchasing an additional 2,702 shares during the quarter. NVIDIA accounts for 2.0% of Concord Wealth Partners’ portfolio, making the stock its 13th largest position. Concord Wealth Partners’ holdings in NVIDIA were worth $9,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. International Assets Investment Management LLC lifted its holdings in shares of NVIDIA by 54,019.5% during the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after acquiring an additional 16,835,703 shares during the period. Vanguard Group Inc. lifted its stake in NVIDIA by 1.1% during the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after purchasing an additional 2,287,471 shares during the period. California Public Employees Retirement System boosted its stake in NVIDIA by 31.8% in the 4th quarter. California Public Employees Retirement System now owns 7,477,385 shares of the computer hardware maker’s stock valued at $3,702,951,000 after buying an additional 1,805,763 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 3rd quarter worth about $728,543,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of NVIDIA by 99.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock valued at $1,037,437,000 after buying an additional 1,189,495 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $887.47 on Friday. NVIDIA Co. has a 12 month low of $280.46 and a 12 month high of $974.00. The company’s fifty day simple moving average is $874.91 and its 200-day simple moving average is $661.05. The firm has a market cap of $2.22 trillion, a PE ratio of 74.33, a P/E/G ratio of 1.27 and a beta of 1.75. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the business earned $0.65 EPS. The company’s revenue was up 265.3% compared to the same quarter last year. Equities research analysts expect that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is 1.34%.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock valued at $52,689,898 in the last 90 days. 3.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on NVDA shares. Truist Financial increased their price objective on shares of NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a report on Monday, March 18th. UBS Group raised their price target on shares of NVIDIA from $1,100.00 to $1,150.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Tigress Financial upped their price objective on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Citigroup lifted their target price on NVIDIA from $820.00 to $1,030.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, The Goldman Sachs Group upped their price target on NVIDIA from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $944.05.

About NVIDIA

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.