NVIDIA Co. (NASDAQ:NVDA) is Concorde Asset Management LLC’s 8th Largest Position

Concorde Asset Management LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 18.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,892 shares of the computer hardware maker’s stock after selling 10,029 shares during the period. NVIDIA accounts for approximately 3.1% of Concorde Asset Management LLC’s portfolio, making the stock its 8th largest holding. Concorde Asset Management LLC’s holdings in NVIDIA were worth $5,894,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NVDA. FMR LLC boosted its position in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC raised its stake in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Norges Bank bought a new stake in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in NVIDIA by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after buying an additional 6,526,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of NVIDIA by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 151,280,130 shares of the computer hardware maker’s stock worth $20,315,409,000 after buying an additional 5,211,040 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of NVIDIA from $175.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Bank of America dropped their price target on NVIDIA from $200.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Wedbush reiterated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. Finally, Stifel Nicolaus set a $180.00 target price on NVIDIA in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.96.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $116.65 on Friday. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The firm has a market capitalization of $2.85 trillion, a P/E ratio of 45.91, a P/E/G ratio of 1.76 and a beta of 2.11. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $110.29 and a two-hundred day simple moving average of $127.28.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. On average, equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Buying and Selling

In related news, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 in the last 90 days. Insiders own 4.23% of the company’s stock.

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.