Pinion Investment Advisors LLC Boosts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Pinion Investment Advisors LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 992.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,340 shares of the computer hardware maker’s stock after purchasing an additional 16,661 shares during the period. NVIDIA accounts for 1.1% of Pinion Investment Advisors LLC’s holdings, making the stock its 15th biggest position. Pinion Investment Advisors LLC’s holdings in NVIDIA were worth $2,266,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truepoint Inc. lifted its holdings in NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after purchasing an additional 11,709 shares in the last quarter. Consolidated Planning Corp lifted its stake in shares of NVIDIA by 825.9% in the second quarter. Consolidated Planning Corp now owns 84,133 shares of the computer hardware maker’s stock worth $10,394,000 after buying an additional 75,046 shares in the last quarter. International Private Wealth Advisors LLC lifted its stake in shares of NVIDIA by 1,452.1% in the second quarter. International Private Wealth Advisors LLC now owns 7,512 shares of the computer hardware maker’s stock worth $928,000 after buying an additional 7,028 shares in the last quarter. Lafayette Investments Inc. lifted its stake in shares of NVIDIA by 901.8% in the second quarter. Lafayette Investments Inc. now owns 5,710 shares of the computer hardware maker’s stock worth $705,000 after buying an additional 5,140 shares in the last quarter. Finally, AMJ Financial Wealth Management lifted its stake in shares of NVIDIA by 898.7% in the second quarter. AMJ Financial Wealth Management now owns 59,300 shares of the computer hardware maker’s stock worth $7,326,000 after buying an additional 53,362 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVDA. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. KeyCorp raised their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Tuesday, August 6th. Sanford C. Bernstein raised their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC raised their price objective on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Stock Up 0.8 %

Shares of NVIDIA stock opened at $138.00 on Friday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.89. The company has a 50 day moving average of $121.88 and a 200 day moving average of $112.19. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.39 trillion, a P/E ratio of 80.70, a P/E/G ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, research analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,996,270 shares of company stock worth $347,729,127 in the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA 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.