Connor Clark & Lunn Investment Management Ltd. Sells 1,649,751 Shares of NVIDIA Co. (NASDAQ:NVDA)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 40.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,437,227 shares of the computer hardware maker’s stock after selling 1,649,751 shares during the period. NVIDIA accounts for 1.4% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 17th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in NVIDIA were worth $295,977,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Lantz Financial LLC lifted its holdings in shares of NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after acquiring an additional 36,774 shares during the last quarter. Ironwood Wealth Management LLC. lifted its holdings in shares of NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after acquiring an additional 5,695 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of NVIDIA during the 2nd quarter worth $6,663,000. Ninety One UK Ltd lifted its holdings in shares of NVIDIA by 806.8% during the 2nd quarter. Ninety One UK Ltd now owns 9,847,094 shares of the computer hardware maker’s stock worth $1,216,510,000 after acquiring an additional 8,761,183 shares during the last quarter. Finally, Ninety One SA PTY Ltd lifted its holdings in shares of NVIDIA by 846.1% during the 2nd quarter. Ninety One SA PTY Ltd now owns 173,864 shares of the computer hardware maker’s stock worth $21,697,000 after acquiring an additional 155,487 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NVDA. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Wedbush lifted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Monday, November 18th. Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Finally, Raymond James lifted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $144.47 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a fifty day moving average price of $139.57 and a 200 day moving average price of $128.15. NVIDIA Co. has a fifty-two week low of $47.51 and a fifty-two week high of $152.89. The firm has a market cap of $3.54 trillion, a price-to-earnings ratio of 56.86, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,226,886 shares of company stock worth $161,499,400 over the last 90 days. 4.23% of the stock is owned by insiders.

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.