CIBC Private Wealth Group LLC Has $22.26 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

CIBC Private Wealth Group LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 53.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 183,387 shares of the computer hardware maker’s stock after selling 211,971 shares during the period. CIBC Private Wealth Group LLC’s holdings in NVIDIA were worth $22,261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. raised its stake in shares of NVIDIA by 271.2% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 245 shares of the computer hardware maker’s stock valued at $30,000 after purchasing an additional 179 shares during the period. FSC Wealth Advisors LLC raised its stake in shares of NVIDIA by 313.6% in the 3rd quarter. FSC Wealth Advisors LLC now owns 273 shares of the computer hardware maker’s stock valued at $33,000 after purchasing an additional 207 shares during the period. Paragon Wealth Strategies LLC acquired a new stake in shares of NVIDIA in the 3rd quarter valued at about $36,000. Lumature Wealth Partners LLC grew its holdings in shares of NVIDIA by 396.8% in the 3rd quarter. Lumature Wealth Partners LLC now owns 313 shares of the computer hardware maker’s stock valued at $38,000 after acquiring an additional 250 shares in the last quarter. Finally, Horizons Wealth Management bought a new position in shares of NVIDIA in the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NVDA shares. Craig Hallum raised their price objective on NVIDIA from $165.00 to $190.00 and gave the company a “hold” rating in a report on Thursday, February 23rd. Wedbush raised their price objective on NVIDIA from $175.00 to $216.00 in a report on Thursday, February 23rd. Mizuho raised their price objective on NVIDIA from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Susquehanna Bancshares raised their price objective on NVIDIA from $180.00 to $185.00 and gave the company a “positive” rating in a report on Thursday, November 17th. Finally, Evercore ISI raised their price objective on NVIDIA from $245.00 to $300.00 in a report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $242.14.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 10,741 shares of the business’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $200.00, for a total transaction of $2,148,200.00. Following the completion of the transaction, the chief financial officer now directly owns 536,960 shares in the company, valued at $107,392,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NVIDIA news, CFO Colette Kress sold 10,741 shares of the business’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $200.00, for a total transaction of $2,148,200.00. Following the completion of the transaction, the chief financial officer now directly owns 536,960 shares in the company, valued at $107,392,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $158.84, for a total transaction of $19,060,800.00. Following the transaction, the director now owns 1,325,888 shares of the company’s stock, valued at $210,604,049.92. The disclosure for this sale can be found here. Insiders sold a total of 295,560 shares of company stock worth $51,648,397 over the last three months. Corporate insiders own 4.04% of the company’s stock.

NVIDIA Stock Up 4.8 %

NASDAQ NVDA opened at $240.63 on Wednesday. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. NVIDIA Co. has a 1-year low of $108.13 and a 1-year high of $289.46. The company has a 50 day moving average of $204.52 and a 200-day moving average of $165.06. The company has a market cap of $594.36 billion, a price-to-earnings ratio of 138.29, a PEG ratio of 4.08 and a beta of 1.76.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. NVIDIA had a net margin of 16.19% and a return on equity of 26.61%. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The firm’s quarterly revenue was down 20.8% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Co. will post 3.21 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 8th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $0.16 annualized dividend and a yield of 0.07%. NVIDIA’s dividend payout ratio is currently 9.20%.

NVIDIA Company Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.