Cordant Inc. Acquires 120 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cordant Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 176.5% in the 4th quarter, Holdings Channel reports. The fund owned 188 shares of the computer hardware maker’s stock after purchasing an additional 120 shares during the quarter. Cordant Inc.’s holdings in NVIDIA were worth $93,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NVDA. LFA Lugano Financial Advisors SA acquired a new position in shares of NVIDIA during the fourth quarter worth about $28,000. Peoples Financial Services CORP. acquired a new position in shares of NVIDIA during the third quarter worth about $30,000. Your Advocates Ltd. LLP acquired a new position in shares of NVIDIA during the third quarter worth about $30,000. Trivant Custom Portfolio Group LLC boosted its position in shares of NVIDIA by 44.1% during the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after buying an additional 30 shares during the period. Finally, Beacon Capital Management Inc. acquired a new position in shares of NVIDIA during the fourth quarter worth about $50,000. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 35,648 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $542.93, for a total transaction of $19,354,368.64. Following the sale, the director now owns 1,189,083 shares of the company’s stock, valued at approximately $645,588,833.19. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 35,648 shares of NVIDIA stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $542.93, for a total transaction of $19,354,368.64. Following the transaction, the director now directly owns 1,189,083 shares of the company’s stock, valued at approximately $645,588,833.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 36,000 shares of NVIDIA stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $546.95, for a total value of $19,690,200.00. Following the transaction, the director now directly owns 1,134,583 shares in the company, valued at $620,560,171.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,226 shares of company stock valued at $71,759,148. 3.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. Susquehanna reaffirmed a “positive” rating and set a $1,050.00 price objective on shares of NVIDIA in a research report on Thursday. Tigress Financial upped their price objective on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Oppenheimer increased their price target on NVIDIA from $850.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Piper Sandler increased their price target on NVIDIA from $850.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, Truist Financial increased their price target on NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $908.68.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $880.08 on Monday. The business’s 50 day moving average is $806.46 and its 200-day moving average is $594.66. NVIDIA Co. has a 1-year low of $262.20 and a 1-year high of $974.00. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The firm has a market cap of $2.20 trillion, a P/E ratio of 73.71, a price-to-earnings-growth ratio of 1.27 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the company earned $0.65 EPS. The company’s revenue was up 265.3% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.

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.