Connective Capital Management LLC Acquires New Shares in NVIDIA Corporation $NVDA

Connective Capital Management LLC bought a new stake in NVIDIA Corporation (NASDAQ:NVDA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,646 shares of the computer hardware maker’s stock, valued at approximately $5,316,000. NVIDIA accounts for about 5.0% of Connective Capital Management LLC’s holdings, making the stock its 6th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after buying an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of NVIDIA by 1.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock worth $315,100,000 after acquiring an additional 22,929 shares in the last quarter. Highview Capital Management LLC DE increased its holdings in shares of NVIDIA by 6.7% in the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock worth $7,842,000 after acquiring an additional 3,653 shares in the last quarter. Hudson Value Partners LLC raised its position in shares of NVIDIA by 30.7% during the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock worth $6,805,000 after purchasing an additional 11,900 shares during the period. Finally, Wealth Group Ltd. lifted its holdings in shares of NVIDIA by 15.7% during the 1st quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker’s stock valued at $715,000 after purchasing an additional 896 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 0.6%

Shares of NASDAQ:NVDA opened at $183.78 on Thursday. The company’s 50-day moving average price is $187.10 and its two-hundred day moving average price is $173.19. NVIDIA Corporation has a one year low of $86.62 and a one year high of $212.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. The stock has a market capitalization of $4.47 trillion, a PE ratio of 45.60, a price-to-earnings-growth ratio of 0.91 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating 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 business had revenue of $57.01 billion for the quarter, compared to the consensus estimate of $54.66 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. NVIDIA’s quarterly revenue was up 62.5% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wedbush increased their target price on NVIDIA from $210.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price target on shares of NVIDIA in a report on Thursday, November 20th. Wolfe Research raised their price objective on shares of NVIDIA from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Truist Financial boosted their price objective on shares of NVIDIA from $228.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Finally, Barclays upped their target price on shares of NVIDIA from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Four equities research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $258.65.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 27,640 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $208.33, for a total value of $5,758,241.20. Following the completion of the sale, the chief financial officer owned 2,828,122 shares of the company’s stock, valued at approximately $589,182,656.26. This represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 626 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $179.42, for a total transaction of $112,316.92. Following the transaction, the director owned 17,792 shares in the company, valued at approximately $3,192,240.64. The trade was a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,029,931 shares of company stock worth $548,443,455. Insiders own 4.17% of the company’s stock.

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.