Pinnacle Wealth Management LLC Cuts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Pinnacle Wealth Management LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,624 shares of the computer hardware maker’s stock after selling 111 shares during the quarter. NVIDIA accounts for about 5.2% of Pinnacle Wealth Management LLC’s holdings, making the stock its 3rd biggest position. Pinnacle Wealth Management LLC’s holdings in NVIDIA were worth $4,650,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Hickory Point Bank & Trust bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $2,272,000. Capital Performance Advisors LLP grew its position in NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares in the last quarter. Waddell & Associates LLC grew its position in NVIDIA by 1.2% in the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after purchasing an additional 297 shares in the last quarter. Strategy Asset Managers LLC grew its position in NVIDIA by 0.8% in the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock worth $7,024,000 after purchasing an additional 405 shares in the last quarter. Finally, Ethos Financial Group LLC grew its position 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 worth $4,312,000 after purchasing an additional 6,241 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,147 shares of company stock worth $17,133,207. 4.17% of the stock is currently owned by insiders.

NVIDIA Price Performance

NVDA opened at $137.38 on Tuesday. The stock’s 50 day simple moving average is $115.95 and its 200 day simple moving average is $126.21. 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 Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The firm has a market cap of $3.36 trillion, a price-to-earnings ratio of 54.07, a PEG ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Thursday, April 3rd. Bank of America boosted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Mizuho boosted their price objective on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, May 29th. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday. Finally, Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $171.66.

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.