Connor Clark & Lunn Investment Management Ltd. Sells 15,098 Shares of NVIDIA Co. (NASDAQ:NVDA)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,422,129 shares of the computer hardware maker’s stock after selling 15,098 shares during the period. NVIDIA makes up about 1.5% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 16th biggest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in NVIDIA were worth $325,268,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the fourth quarter valued at $28,000. Legend Financial Advisors Inc. purchased a new stake in NVIDIA in the 4th quarter worth about $34,000. Vision Financial Markets LLC bought a new stake in NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA during the fourth quarter valued at approximately $46,000. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NVDA shares. Piper Sandler decreased their price target on NVIDIA from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday. HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Thursday, April 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $165.64.

NVIDIA Stock Down 6.9 %

NASDAQ:NVDA opened at $104.49 on Thursday. The company’s 50 day moving average is $117.83 and its two-hundred day moving average is $130.03. The company has a market cap of $2.55 trillion, a PE ratio of 41.12, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. Analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Insider Activity at NVIDIA

In related news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 over the last quarter. Insiders own 4.23% of the company’s stock.

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.