Pinnacle Financial Partners Inc Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Pinnacle Financial Partners Inc increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 450,064 shares of the computer hardware maker’s stock after buying an additional 24,647 shares during the period. NVIDIA accounts for approximately 1.1% of Pinnacle Financial Partners Inc’s portfolio, making the stock its 17th largest holding. Pinnacle Financial Partners Inc’s holdings in NVIDIA were worth $54,656,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Rossmore Private Capital raised its stake in NVIDIA by 33.0% in the third quarter. Rossmore Private Capital now owns 46,311 shares of the computer hardware maker’s stock valued at $5,624,000 after purchasing an additional 11,486 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC increased its holdings in shares of NVIDIA by 59.5% in the 3rd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,928 shares of the computer hardware maker’s stock worth $598,000 after buying an additional 1,838 shares during the last quarter. Community Bank & Trust Waco Texas raised its position in shares of NVIDIA by 2.3% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 113,274 shares of the computer hardware maker’s stock valued at $13,756,000 after buying an additional 2,534 shares in the last quarter. Haverford Trust Co lifted its holdings in shares of NVIDIA by 51.0% during the 3rd quarter. Haverford Trust Co now owns 767,863 shares of the computer hardware maker’s stock worth $93,249,000 after acquiring an additional 259,191 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in NVIDIA by 0.6% in the third quarter. Empower Advisory Group LLC now owns 2,769,091 shares of the computer hardware maker’s stock worth $336,278,000 after acquiring an additional 16,409 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NVDA shares. Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Bank of America reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. HSBC upped their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Susquehanna lifted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,351,886 shares of company stock valued at $176,825,650 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $137.01 on Monday. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. The company has a market cap of $3.36 trillion, a price-to-earnings ratio of 53.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $139.97 and a two-hundred day simple moving average of $127.97.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. Research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

About NVIDIA

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.