Connors Investor Services Inc. Buys 4,514 Shares of NVIDIA Co. (NASDAQ:NVDA)

Connors Investor Services Inc. lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,400 shares of the computer hardware maker’s stock after buying an additional 4,514 shares during the period. NVIDIA makes up 3.1% of Connors Investor Services Inc.’s portfolio, making the stock its 5th biggest position. Connors Investor Services Inc.’s holdings in NVIDIA were worth $33,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of NVDA. Tacita Capital Inc acquired a new position in NVIDIA in the 4th quarter worth $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the fourth quarter worth about $34,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the fourth quarter valued at about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their position. 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 ninety days. 4.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Barclays cut their price target on shares of NVIDIA from $175.00 to $155.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Truist Financial boosted their target price on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.84.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $131.80 on Thursday. The firm’s 50 day moving average is $113.31 and its two-hundred day moving average is $127.02. The firm has a market capitalization of $3.22 trillion, a P/E ratio of 51.87, a PEG ratio of 1.76 and a beta of 2.11. 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 Co. has a 52 week low of $86.62 and a 52 week high of $195.95.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

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.