Pinnacle West Asset Management Inc. Has $3.89 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Pinnacle West Asset Management Inc. lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,940 shares of the computer hardware maker’s stock after selling 3,350 shares during the period. NVIDIA accounts for 2.8% of Pinnacle West Asset Management Inc.’s portfolio, making the stock its 4th largest holding. Pinnacle West Asset Management Inc.’s holdings in NVIDIA were worth $3,886,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the 4th quarter valued at about $34,000. Luken Investment Analytics LLC bought a new stake in NVIDIA during the fourth quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $46,000. Finally, 1620 Investment Advisors Inc. raised its position in shares of NVIDIA by 145.9% in the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after purchasing an additional 248 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $108.38 on Tuesday. The stock has a market capitalization of $2.64 trillion, a P/E ratio of 42.65, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $195.95. The firm has a 50 day moving average of $124.42 and a 200-day moving average of $131.53.

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

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. KeyCorp set a $190.00 price target on NVIDIA in a research report on Wednesday, March 19th. HSBC cut their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, January 13th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Stifel Nicolaus set a $180.00 price target on NVIDIA in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $171.51.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of NVIDIA 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 completion of the sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 183,609 shares of company stock valued at $22,642,615. 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.