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

Pinnacle Wealth Management Advisory Group LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,352 shares of the computer hardware maker’s stock after selling 1,902 shares during the quarter. NVIDIA accounts for approximately 1.8% of Pinnacle Wealth Management Advisory Group LLC’s investment portfolio, making the stock its 14th biggest holding. Pinnacle Wealth Management Advisory Group LLC’s holdings in NVIDIA were worth $19,654,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NVDA. Palisade Asset Management LLC raised its position in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares during the period. SMART Wealth LLC increased its stake in shares of NVIDIA by 289.5% during the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after purchasing an additional 53,747 shares in the last quarter. Blue Square Asset Management LLC raised its position in shares of NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares during the last quarter. Narwhal Capital Management raised its position in shares of NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after purchasing an additional 26,373 shares during the last quarter. Finally, Tybourne Capital Management HK Ltd. lifted its stake in NVIDIA by 46.7% in the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock valued at $2,043,000 after buying an additional 5,360 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $118.53 on Friday. The stock has a market capitalization of $2.89 trillion, a price-to-earnings ratio of 46.65, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a 50-day moving average of $127.28 and a 200 day moving average of $131.03. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research reports. Susquehanna reiterated a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday. Wells Fargo & Company boosted their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Wedbush reaffirmed an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, February 20th. Finally, DA Davidson reduced their target price on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $171.51.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,449 shares of company stock valued at $11,960,727. 4.23% of the stock is currently owned by company 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.