NVIDIA Co. (NASDAQ:NVDA) Stake Lowered by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 22.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,646 shares of the computer hardware maker’s stock after selling 2,547 shares during the period. NVIDIA makes up about 1.0% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 21st largest holding. Pin Oak Investment Advisors Inc.’s holdings in NVIDIA were worth $1,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vinva Investment Management Ltd boosted its position in shares of NVIDIA by 11.2% during the third quarter. Vinva Investment Management Ltd now owns 1,159,455 shares of the computer hardware maker’s stock worth $140,758,000 after buying an additional 117,027 shares during the period. Elite Wealth Management Inc. boosted its position in shares of NVIDIA by 1.2% during the third quarter. Elite Wealth Management Inc. now owns 461,031 shares of the computer hardware maker’s stock worth $55,988,000 after buying an additional 5,472 shares during the period. Financial Counselors Inc. boosted its position in shares of NVIDIA by 2.1% during the third quarter. Financial Counselors Inc. now owns 1,815,009 shares of the computer hardware maker’s stock worth $220,415,000 after buying an additional 37,394 shares during the period. Castle Hook Partners LP acquired a new position in shares of NVIDIA during the third quarter worth approximately $49,162,000. Finally, Noesis Capital Mangement Corp boosted its position in shares of NVIDIA by 9.7% during the third quarter. Noesis Capital Mangement Corp now owns 11,708 shares of the computer hardware maker’s stock worth $1,422,000 after buying an additional 1,038 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 2.0 %

NASDAQ NVDA opened at $133.23 on Tuesday. NVIDIA Co. has a 1-year low of $54.74 and a 1-year high of $153.13. 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 company has a market capitalization of $3.26 trillion, a PE ratio of 52.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The firm’s fifty day simple moving average is $139.84 and its 200-day simple moving average is $128.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In related news, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research analyst reports. Truist Financial upped their target price on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company upped their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Susquehanna upped their target price on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Stifel Nicolaus upped their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Barclays upped their target price on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $164.27.

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.