Pines Wealth Management LLC Acquires Shares of 57,866 NVIDIA Co. (NASDAQ:NVDA)

Pines Wealth Management LLC bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 57,866 shares of the computer hardware maker’s stock, valued at approximately $7,865,000. NVIDIA comprises 3.4% of Pines Wealth Management LLC’s holdings, making the stock its 4th biggest position.

A number of other hedge funds have also made changes to their positions in NVDA. Geode Capital Management LLC raised its stake 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 buying an additional 11,525,969 shares in the last quarter. Legal & General Group Plc raised its position in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NVIDIA by 3.8% during 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 worth $21,908,236,000 after purchasing an additional 6,526,200 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in NVIDIA by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after purchasing an additional 2,042,348 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $120.07 on Friday. The business has a fifty day simple moving average of $137.02 and a 200 day simple moving average of $129.37. 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 $60.70 and a 1 year high of $153.13. The firm has a market cap of $2.94 trillion, a price-to-earnings ratio of 47.25, a P/E/G ratio of 2.23 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, sell-side analysts predict that NVIDIA Co. will post 2.77 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 was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

Insiders Place Their Bets

In other news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 over the last three months. 4.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVDA. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Monday, January 27th. Robert W. Baird raised their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.23.

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.