NVIDIA Co. (NASDAQ:NVDA) Stake Raised by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 453,287 shares of the computer hardware maker’s stock after acquiring an additional 3,223 shares during the quarter. NVIDIA accounts for about 1.2% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 16th largest holding. Pinnacle Financial Partners Inc’s holdings in NVIDIA were worth $60,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in shares of NVIDIA by 12,898.6% during the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after acquiring an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC acquired a new stake in NVIDIA during the third quarter valued at $4,589,905,000. Geode Capital Management LLC boosted its position in NVIDIA by 2.2% during the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after purchasing an additional 11,525,969 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in NVIDIA by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after purchasing an additional 6,526,200 shares in the last quarter. Finally, National Pension Service increased its position in NVIDIA by 14.9% in the 3rd quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock worth $5,734,483,000 after purchasing an additional 6,118,674 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, February 20th. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Bank of America restated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Truist Financial lifted their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Stock Down 1.6 %

Shares of NVDA stock opened at $109.67 on Friday. The stock has a market cap of $2.68 trillion, a P/E ratio of 43.16, 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 stock has a fifty day moving average price of $125.01 and a 200 day moving average price of $131.34. NVIDIA Co. has a one year low of $75.61 and a one year high of $195.95.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 0.04%. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,609 shares of company stock valued at $22,642,615. Corporate insiders own 4.23% of the company’s stock.

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.