Pinnacle Financial Partners Inc. increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 14.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,800 shares of the computer hardware maker’s stock after purchasing an additional 874 shares during the period. Pinnacle Financial Partners Inc.’s holdings in NVIDIA were worth $3,557,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. NewSquare Capital LLC bought a new position in NVIDIA in the 3rd quarter worth approximately $32,000. CVA Family Office LLC purchased a new stake in NVIDIA in the 3rd quarter worth approximately $40,000. JJJ Advisors Inc. purchased a new stake in NVIDIA in the 3rd quarter worth approximately $42,000. Your Advocates Ltd. LLP purchased a new stake in NVIDIA in the 3rd quarter worth approximately $42,000. Finally, Turim 21 Investimentos Ltda. purchased a new stake in NVIDIA in the 3rd quarter worth approximately $42,000. 61.27% of the stock is owned by institutional investors.
NVDA has been the topic of several recent analyst reports. Craig Hallum increased their target price on shares of NVIDIA from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Thursday, November 19th. Mizuho increased their target price on shares of NVIDIA from $575.00 to $605.00 and gave the stock a “buy” rating in a research note on Thursday, November 19th. Zacks Investment Research upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $567.00 target price on the stock in a research note on Tuesday, October 20th. Barclays increased their target price on shares of NVIDIA from $525.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, November 19th. Finally, UBS Group raised their price objective on shares of NVIDIA from $625.00 to $650.00 and gave the company a “buy” rating in a research report on Thursday, November 19th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $545.84.
NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Tuesday, November 17th. The computer hardware maker reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.34. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.42 billion. NVIDIA had a net margin of 25.89% and a return on equity of 32.61%. As a group, sell-side analysts expect that NVIDIA Co. will post 7.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 29th. Shareholders of record on Friday, December 4th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Thursday, December 3rd. NVIDIA’s dividend payout ratio (DPR) is presently 13.94%.
In other news, Director John Dabiri sold 185 shares of NVIDIA stock in a transaction dated Wednesday, December 23rd. The shares were sold at an average price of $529.85, for a total transaction of $98,022.25. Following the sale, the director now owns 1,251 shares of the company’s stock, valued at approximately $662,842.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director A Brooke Seawell sold 356 shares of NVIDIA stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $540.52, for a total transaction of $192,425.12. Following the sale, the director now directly owns 356 shares in the company, valued at approximately $192,425.12. The disclosure for this sale can be found here. In the last three months, insiders sold 40,164 shares of company stock worth $21,990,509. Insiders own 4.47% of the company’s stock.
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.
Featured Story: What is the definition of a trade war?
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA).
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.