Pettinga Financial Advisors LLC Has $929,000 Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Pettinga Financial Advisors LLC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,651 shares of the computer hardware maker’s stock after selling 924 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in NVIDIA were worth $929,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Lantz Financial LLC boosted its holdings in shares of NVIDIA by 833.1% in the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after buying an additional 36,774 shares during the last quarter. Demars Financial Group LLC lifted its stake in NVIDIA by 923.6% in the second quarter. Demars Financial Group LLC now owns 42,663 shares of the computer hardware maker’s stock valued at $5,271,000 after acquiring an additional 38,495 shares during the last quarter. Financial Partners Group Inc grew its position in shares of NVIDIA by 1,051.0% in the 2nd quarter. Financial Partners Group Inc now owns 38,524 shares of the computer hardware maker’s stock valued at $4,759,000 after acquiring an additional 35,177 shares during the period. Integris Wealth Management LLC increased its stake in shares of NVIDIA by 898.7% during the 2nd quarter. Integris Wealth Management LLC now owns 3,056 shares of the computer hardware maker’s stock worth $378,000 after purchasing an additional 2,750 shares during the last quarter. Finally, Clay Northam Wealth Management LLC raised its holdings in shares of NVIDIA by 905.3% in the 2nd quarter. Clay Northam Wealth Management LLC now owns 28,218 shares of the computer hardware maker’s stock valued at $3,486,000 after purchasing an additional 25,411 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the sale, 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. In the last quarter, insiders have sold 1,226,886 shares of company stock worth $161,499,400. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $144.47 on Friday. The firm has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 56.86, a PEG 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 business’s 50-day moving average price is $139.51 and its 200-day moving average price is $128.16. NVIDIA Co. has a 12 month low of $47.51 and a 12 month high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for 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%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. Equities research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVDA. Wedbush lifted their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Robert W. Baird lifted their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. DA Davidson increased their price target on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Phillip Securities reissued an “accumulate” rating and issued a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

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.