Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in NVIDIA Co. (NASDAQ:NVDA)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,422,129 shares of the computer hardware maker’s stock after selling 15,098 shares during the period. NVIDIA accounts for 1.5% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 16th largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in NVIDIA were worth $325,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hickory Point Bank & Trust purchased a new position in NVIDIA during the 4th quarter valued at about $2,272,000. Capital Performance Advisors LLP increased its stake in shares of NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after purchasing an additional 9,944 shares in the last quarter. Ethos Financial Group LLC lifted its holdings in shares of NVIDIA by 24.1% during the fourth quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock valued at $4,312,000 after purchasing an additional 6,241 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of NVIDIA by 3.6% in the 4th quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker’s stock worth $196,711,000 after purchasing an additional 50,978 shares in the last quarter. Finally, Candriam S.C.A. grew its stake in shares of NVIDIA by 0.5% in the 4th quarter. Candriam S.C.A. now owns 7,061,058 shares of the computer hardware maker’s stock worth $948,229,000 after buying an additional 35,684 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Down 6.9 %

Shares of NVDA stock opened at $104.49 on Thursday. 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 one year low of $75.61 and a one year high of $195.95. The company’s fifty day moving average price is $117.83 and its 200-day moving average price is $130.03. The company has a market capitalization of $2.55 trillion, a price-to-earnings ratio of 41.12, a PEG ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. 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 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity

In other news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 over the last quarter. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Raymond James reiterated a “strong-buy” rating on shares of NVIDIA in a research note on Wednesday. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Barclays raised their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Wedbush restated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.64.

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.