Pinnacle Wealth Planning Services Inc. Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Pinnacle Wealth Planning Services Inc. cut its stake in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 2.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 19,806 shares of the computer hardware maker’s stock after selling 427 shares during the period. NVIDIA comprises about 1.4% of Pinnacle Wealth Planning Services Inc.’s holdings, making the stock its 12th biggest holding. Pinnacle Wealth Planning Services Inc.’s holdings in NVIDIA were worth $8,615,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in NVDA. United Bank raised its position in NVIDIA by 28.9% during the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after acquiring an additional 1,730 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of NVIDIA by 6.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after buying an additional 249,045 shares during the last quarter. MAS Advisors LLC raised its position in shares of NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after buying an additional 583 shares during the last quarter. Navis Wealth Advisors LLC raised its position in shares of NVIDIA by 205.3% in the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after buying an additional 1,950 shares during the last quarter. Finally, Ergoteles LLC acquired a new stake in shares of NVIDIA in the first quarter valued at about $929,000. 64.79% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 3.6 %

Shares of NASDAQ:NVDA opened at $721.33 on Monday. The firm’s 50 day moving average price is $545.55 and its 200 day moving average price is $485.68. The stock has a market cap of $1.78 trillion, a price-to-earnings ratio of 95.16, a price-to-earnings-growth ratio of 2.89 and a beta of 1.69. NVIDIA Co. has a fifty-two week low of $204.21 and a fifty-two week high of $721.85. The company has a quick ratio of 3.06, a current ratio of 3.59 and a debt-to-equity ratio of 0.25.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its earnings results on Tuesday, November 21st. The computer hardware maker reported $4.02 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.99. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $16.19 billion. NVIDIA had a net margin of 42.10% and a return on equity of 72.28%. The firm’s revenue was up 205.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. As a group, equities research analysts predict that NVIDIA Co. will post 11.09 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 6th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s payout ratio is currently 2.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $600.00 target price on shares of NVIDIA in a research report on Wednesday, November 22nd. Morgan Stanley increased their target price on shares of NVIDIA from $603.00 to $750.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $775.00 price objective on shares of NVIDIA in a report on Monday, January 29th. Wells Fargo & Company upped their price objective on shares of NVIDIA from $600.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, November 22nd. Finally, KeyCorp upped their price objective on shares of NVIDIA from $650.00 to $740.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $616.35.

Read Our Latest Stock Analysis on NVIDIA

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 36,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $546.95, for a total transaction of $19,690,200.00. Following the sale, the director now owns 1,134,583 shares of the company’s stock, valued at $620,560,171.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 36,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $546.95, for a total transaction of $19,690,200.00. Following the sale, the director now owns 1,134,583 shares of the company’s stock, valued at $620,560,171.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $484.62, for a total transaction of $218,079.00. Following the sale, the insider now directly owns 50,961 shares in the company, valued at approximately $24,696,719.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,216 shares of company stock valued at $79,810,950. 3.99% of the stock is owned by corporate insiders.

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

See Also

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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