Cannon Advisors Inc. Has $5.89 Million Holdings in NVIDIA Corporation $NVDA

Cannon Advisors Inc. lowered its position in NVIDIA Corporation (NASDAQ:NVDA) by 32.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,298 shares of the computer hardware maker’s stock after selling 17,961 shares during the quarter. NVIDIA comprises approximately 4.7% of Cannon Advisors Inc.’s investment portfolio, making the stock its 4th biggest holding. Cannon Advisors Inc.’s holdings in NVIDIA were worth $5,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Center for Financial Planning Inc. lifted its stake in shares of NVIDIA by 4.6% in the 2nd quarter. Center for Financial Planning Inc. now owns 8,429 shares of the computer hardware maker’s stock valued at $1,332,000 after purchasing an additional 367 shares during the last quarter. Atria Investments Inc raised its holdings in NVIDIA by 3.2% during the second quarter. Atria Investments Inc now owns 942,208 shares of the computer hardware maker’s stock valued at $148,859,000 after buying an additional 29,479 shares in the last quarter. Fielder Capital Group LLC lifted its position in shares of NVIDIA by 9.7% in the first quarter. Fielder Capital Group LLC now owns 50,469 shares of the computer hardware maker’s stock worth $5,470,000 after buying an additional 4,444 shares during the last quarter. MADDEN SECURITIES Corp lifted its position in shares of NVIDIA by 3.2% in the second quarter. MADDEN SECURITIES Corp now owns 81,322 shares of the computer hardware maker’s stock worth $12,848,000 after buying an additional 2,484 shares during the last quarter. Finally, ORG Wealth Partners LLC boosted its stake in shares of NVIDIA by 7.7% during the 2nd quarter. ORG Wealth Partners LLC now owns 49,301 shares of the computer hardware maker’s stock worth $7,560,000 after acquiring an additional 3,542 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Down 0.5%

NVDA stock opened at $182.41 on Friday. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $212.19. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.43 trillion, a PE ratio of 45.26, a price-to-earnings-growth ratio of 0.90 and a beta of 2.29. The business’s 50-day simple moving average is $187.13 and its 200 day simple moving average is $172.08.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The company had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. During the same quarter last year, the company earned $0.81 EPS. The company’s quarterly revenue was up 62.5% on a year-over-year basis. On average, research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be issued a $0.01 dividend. 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%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Craig Hallum boosted their target price on NVIDIA from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. HSBC set a $320.00 price objective on shares of NVIDIA and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Evercore ISI set a $352.00 target price on shares of NVIDIA and gave the company an “outperform” rating in a research note on Thursday, November 20th. Susquehanna boosted their target price on shares of NVIDIA from $230.00 to $250.00 and gave the stock a “positive” rating in a research report on Thursday, November 20th. Finally, Hsbc Global Res raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, NVIDIA presently has an average rating of “Buy” and an average price target of $258.65.

Insider Activity

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

NVIDIA Company 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.