Pinnacle Associates Ltd. Buys 2,210 Shares of NVIDIA Co. (NASDAQ:NVDA)

Pinnacle Associates Ltd. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,263 shares of the computer hardware maker’s stock after buying an additional 2,210 shares during the period. NVIDIA makes up about 0.9% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 22nd largest holding. Pinnacle Associates Ltd.’s holdings in NVIDIA were worth $51,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Aprio Wealth Management LLC boosted its stake in shares of NVIDIA by 1.8% in the 4th quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock worth $523,000 after buying an additional 19 shares during the last quarter. North Star Investment Management Corp. lifted its position in NVIDIA by 0.3% during the fourth quarter. North Star Investment Management Corp. now owns 6,994 shares of the computer hardware maker’s stock valued at $3,463,000 after purchasing an additional 20 shares in the last quarter. LS Investment Advisors LLC lifted its position in NVIDIA by 1.0% during the fourth quarter. LS Investment Advisors LLC now owns 2,120 shares of the computer hardware maker’s stock valued at $1,050,000 after purchasing an additional 20 shares in the last quarter. PCA Investment Advisory Services Inc. lifted its position in NVIDIA by 2.5% during the third quarter. PCA Investment Advisory Services Inc. now owns 857 shares of the computer hardware maker’s stock valued at $373,000 after purchasing an additional 21 shares in the last quarter. Finally, IMPACTfolio LLC lifted its position in NVIDIA by 4.1% during the fourth quarter. IMPACTfolio LLC now owns 529 shares of the computer hardware maker’s stock valued at $262,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $889.64 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The stock has a market capitalization of $2.22 trillion, a P/E ratio of 74.51, a PEG ratio of 1.30 and a beta of 1.73. The company has a 50 day moving average price of $790.68 and a 200 day moving average price of $585.28. NVIDIA Co. has a fifty-two week low of $262.20 and a fifty-two week high of $974.00.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the company posted $0.65 EPS. The firm’s revenue was up 265.3% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is currently 1.34%.

Analyst Ratings Changes

NVDA has been the topic of several analyst reports. DA Davidson lifted their target price on NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Craig Hallum lifted their target price on NVIDIA from $700.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Tigress Financial lifted their target price on NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Truist Financial lifted their target price on NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Wells Fargo & Company lifted their target price on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $908.68.

Check Out Our Latest Stock Analysis on NVDA

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 36,000 shares of NVIDIA stock in a transaction 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 completion of the sale, the director now directly owns 1,134,583 shares of the company’s stock, valued at approximately $620,560,171.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Mark A. Stevens sold 36,000 shares of NVIDIA stock in a transaction 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 directly owns 1,134,583 shares in the company, valued at approximately $620,560,171.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Debora Shoquist sold 5,676 shares of NVIDIA stock in a transaction on Monday, January 8th. The stock was sold at an average price of $500.00, for a total transaction of $2,838,000.00. Following the sale, the executive vice president now owns 48,360 shares in the company, valued at $24,180,000. The disclosure for this sale can be found here. In the last three months, insiders sold 116,352 shares of company stock valued at $74,815,227. Insiders own 3.99% of the company’s stock.

NVIDIA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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