Cannon Advisors Inc. Has $7.59 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cannon Advisors Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 5.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 56,527 shares of the computer hardware maker's stock after selling 3,439 shares during the period. NVIDIA accounts for about 6.5% of Cannon Advisors Inc.'s portfolio, making the stock its 3rd largest position. Cannon Advisors Inc.'s holdings in NVIDIA were worth $7,591,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Hickory Point Bank & Trust bought a new stake in shares of NVIDIA in the 4th quarter valued at about $2,272,000. Capital Performance Advisors LLP boosted its position in NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after acquiring an additional 9,944 shares during the last quarter. Ethos Financial Group LLC increased its stake in NVIDIA by 24.1% in the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker's stock valued at $4,312,000 after buying an additional 6,241 shares during the last quarter. Metis Global Partners LLC raised its holdings in NVIDIA by 3.6% during the fourth quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker's stock worth $196,711,000 after acquiring an additional 50,978 shares in the last quarter. Finally, Candriam S.C.A. raised its stake in shares of NVIDIA by 0.5% during the 4th quarter. Candriam S.C.A. now owns 7,061,058 shares of the computer hardware maker's stock worth $948,229,000 after purchasing an additional 35,684 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

NVDA traded down $0.15 during midday trading on Tuesday, hitting $113.67. The stock had a trading volume of 102,763,889 shares, compared to its average volume of 298,991,769. The company has a market cap of $2.77 trillion, a P/E ratio of 44.76, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The business has a fifty day moving average of $110.50 and a 200 day moving average of $127.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVDA. Benchmark reiterated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Barclays lowered their target price on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Truist Financial lifted their price target on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $164.96.

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.