Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in NVIDIA Corporation $NVDA

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 39.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,555,000 shares of the computer hardware maker’s stock after acquiring an additional 1,004,632 shares during the quarter. NVIDIA comprises approximately 2.0% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 6th largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in NVIDIA were worth $561,654,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Morton Brown Family Wealth LLC lifted its stake in shares of NVIDIA by 1.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 3,928 shares of the computer hardware maker’s stock worth $621,000 after acquiring an additional 58 shares during the period. Roof Eidam Maycock Peralta LLC increased its stake in shares of NVIDIA by 0.3% during the second quarter. Roof Eidam Maycock Peralta LLC now owns 20,903 shares of the computer hardware maker’s stock valued at $3,302,000 after acquiring an additional 58 shares during the period. Alpha Wealth Funds LLC raised its holdings in NVIDIA by 1.3% during the second quarter. Alpha Wealth Funds LLC now owns 4,634 shares of the computer hardware maker’s stock worth $732,000 after purchasing an additional 59 shares in the last quarter. Copia Wealth Management raised its holdings in NVIDIA by 14.7% during the second quarter. Copia Wealth Management now owns 468 shares of the computer hardware maker’s stock worth $74,000 after purchasing an additional 60 shares in the last quarter. Finally, BKM Wealth Management LLC raised its holdings in NVIDIA by 1.1% during the second quarter. BKM Wealth Management LLC now owns 5,745 shares of the computer hardware maker’s stock worth $908,000 after purchasing an additional 60 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Up 2.1%

NASDAQ NVDA opened at $183.38 on Friday. The firm’s 50 day moving average price is $187.05 and its two-hundred day moving average price is $171.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $212.19. The stock has a market cap of $4.46 trillion, a price-to-earnings ratio of 45.50, a PEG ratio of 0.88 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping the consensus estimate of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The business had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. During the same quarter last year, the firm posted $0.81 earnings per share. NVIDIA’s revenue was up 62.5% compared to the same quarter last year. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s payout ratio is 0.99%.

Insider Activity

In other NVIDIA news, Director Harvey C. Jones sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total value of $44,052,500.00. Following the transaction, the director owned 7,183,280 shares in the company, valued at approximately $1,265,765,768.80. This represents a 3.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 350,000 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $176.39, for a total transaction of $61,736,500.00. Following the completion of the sale, the director owned 7,399,803 shares of the company’s stock, valued at approximately $1,305,251,251.17. The trade was a 4.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,949,931 shares of company stock worth $531,605,955 in the last 90 days. Company insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVDA. HSBC set a $320.00 price target on NVIDIA and gave the company a “buy” rating in a research note on Wednesday, October 15th. President Capital raised their target price on NVIDIA from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Wall Street Zen upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. DA Davidson reissued a “buy” rating and issued a $250.00 price target on shares of NVIDIA in a report on Thursday, November 20th. Finally, Sanford C. Bernstein reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, November 26th. Five investment analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $258.65.

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.