NVIDIA Co. (NASDAQ:NVDA) is Concorde Asset Management LLC’s 7th Largest Position

Concorde Asset Management LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,921 shares of the computer hardware maker’s stock after purchasing an additional 758 shares during the period. NVIDIA makes up 3.7% of Concorde Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Concorde Asset Management LLC’s holdings in NVIDIA were worth $6,552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sei Investments Co. boosted its position in shares of NVIDIA by 0.5% during the third quarter. Sei Investments Co. now owns 14,662,150 shares of the computer hardware maker’s stock valued at $1,780,571,000 after purchasing an additional 76,462 shares in the last quarter. Edgewood Management LLC boosted its stake in NVIDIA by 7.7% in the 3rd quarter. Edgewood Management LLC now owns 16,886,613 shares of the computer hardware maker’s stock worth $2,050,710,000 after purchasing an additional 1,207,534 shares in the last quarter. 49 Wealth Management LLC grew its holdings in shares of NVIDIA by 50.2% during the third quarter. 49 Wealth Management LLC now owns 20,910 shares of the computer hardware maker’s stock valued at $2,539,000 after buying an additional 6,986 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of NVIDIA by 8.3% in the third quarter. Eagle Asset Management Inc. now owns 821,544 shares of the computer hardware maker’s stock worth $99,768,000 after purchasing an additional 63,039 shares during the last quarter. Finally, Investors Research Corp lifted its holdings in shares of NVIDIA by 20.5% during the third quarter. Investors Research Corp now owns 1,762 shares of the computer hardware maker’s stock valued at $214,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,071,886 shares of company stock worth $140,997,550 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NVDA shares. Wedbush boosted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Piper Sandler raised their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Benchmark restated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Down 6.2 %

Shares of NASDAQ:NVDA opened at $140.14 on Wednesday. The firm has a market capitalization of $3.43 trillion, a PE ratio of 55.15, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The business has a 50 day simple moving average of $139.72 and a two-hundred day simple moving average of $128.37. NVIDIA Co. has a 1 year low of $49.48 and a 1 year high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 EPS. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. On average, equities analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

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.