Pitcairn Co. Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Pitcairn Co. reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 14.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,056 shares of the computer hardware maker’s stock after selling 65,561 shares during the quarter. NVIDIA makes up about 2.7% of Pitcairn Co.’s investment portfolio, making the stock its 4th largest holding. Pitcairn Co.’s holdings in NVIDIA were worth $45,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Lantz Financial LLC lifted its position 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. raised its stake in NVIDIA by 896.9% during 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. lifted its holdings in NVIDIA by 893.4% in the 2nd quarter. Proffitt & Goodson Inc. now owns 22,272 shares of the computer hardware maker’s stock worth $2,751,000 after purchasing an additional 20,030 shares in the last quarter. Griffin Asset Management Inc. boosted its stake in NVIDIA by 947.1% in 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 raised its position in shares of NVIDIA by 1,150.6% during the second quarter. Joule Financial LLC now owns 3,189 shares of the computer hardware maker’s stock valued at $394,000 after buying an additional 2,934 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In related news, 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 transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Melius Research increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen lifted their target price on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. HSBC increased their price target on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays lifted their price objective on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Down 0.0 %

Shares of NASDAQ NVDA opened at $140.11 on Friday. The stock has a 50 day moving average price of $139.89 and a 200 day moving average price of $128.54. The firm has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.14, a PEG ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52-week low of $51.69 and a 52-week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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

NVIDIA Dividend Announcement

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

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.