Pitcairn Co. Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Pitcairn Co. reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 373,056 shares of the computer hardware maker’s stock after selling 65,561 shares during the period. NVIDIA comprises approximately 2.7% of Pitcairn Co.’s portfolio, making the stock its 4th biggest position. Pitcairn Co.’s holdings in NVIDIA were worth $45,304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Lantz Financial LLC grew its holdings in shares of NVIDIA by 833.1% in the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after acquiring an additional 36,774 shares in the last quarter. Ironwood Wealth Management LLC. grew its stake in NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares during the period. Proffitt & Goodson Inc. increased its position in shares of NVIDIA by 893.4% during the 2nd quarter. Proffitt & Goodson Inc. now owns 22,272 shares of the computer hardware maker’s stock valued at $2,751,000 after purchasing an additional 20,030 shares during the last quarter. Griffin Asset Management Inc. raised its stake in shares of NVIDIA by 947.1% during the 2nd quarter. Griffin Asset Management Inc. now owns 101,780 shares of the computer hardware maker’s stock worth $12,574,000 after purchasing an additional 92,060 shares during the period. Finally, Joule Financial LLC boosted its holdings in shares of NVIDIA by 1,150.6% in the 2nd quarter. Joule Financial LLC now owns 3,189 shares of the computer hardware maker’s stock worth $394,000 after buying an additional 2,934 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $140.11 on Friday. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.14, a PEG ratio of 2.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $51.69 and a 1 year high of $153.13. The firm’s 50-day moving average is $139.89 and its 200 day moving average is $128.54.

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

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Stifel Nicolaus lifted their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Barclays increased their price objective on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Evercore ISI boosted their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Wedbush upped their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.63.

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The stock was 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 owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 over the last 90 days. Company 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.