Concord Wealth Partners Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Concord Wealth Partners increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 15.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,803 shares of the computer hardware maker’s stock after purchasing an additional 2,702 shares during the period. NVIDIA accounts for about 2.0% of Concord Wealth Partners’ holdings, making the stock its 13th biggest position. Concord Wealth Partners’ holdings in NVIDIA were worth $9,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its position in shares of NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after acquiring an additional 16,835,703 shares in the last quarter. Vanguard Group Inc. lifted its holdings in NVIDIA by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after purchasing an additional 2,287,471 shares in the last quarter. California Public Employees Retirement System lifted its holdings in NVIDIA by 31.8% in the 4th quarter. California Public Employees Retirement System now owns 7,477,385 shares of the computer hardware maker’s stock valued at $3,702,951,000 after purchasing an additional 1,805,763 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the 3rd quarter worth about $728,543,000. Finally, Assenagon Asset Management S.A. raised its position in shares of NVIDIA by 99.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock valued at $1,037,437,000 after buying an additional 1,189,495 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $887.47 on Friday. The stock’s 50 day moving average is $874.91 and its two-hundred day moving average is $661.05. NVIDIA Co. has a 52-week low of $280.46 and a 52-week high of $974.00. The company has a market capitalization of $2.22 trillion, a PE ratio of 74.33, a P/E/G ratio of 1.27 and a beta of 1.75. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The business’s revenue was up 265.3% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is 1.34%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Raymond James raised their target price on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 11th. Stifel Nicolaus restated a “buy” rating and set a $910.00 price objective on shares of NVIDIA in a report on Wednesday, March 20th. CICC Research began coverage on NVIDIA in a research note on Wednesday, March 6th. They issued an “outperform” rating and a $870.00 target price for the company. Piper Sandler raised their price target on NVIDIA from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Finally, Tigress Financial upped their price objective on shares of NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $944.05.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the transaction, the director now directly owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock valued at $52,689,898 over the last three months. 3.99% of the stock is owned by insiders.

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.