Pinnacle Financial Partners Inc Acquires 3,223 Shares of NVIDIA Co. (NASDAQ:NVDA)

Pinnacle Financial Partners Inc lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 453,287 shares of the computer hardware maker’s stock after purchasing an additional 3,223 shares during the quarter. NVIDIA comprises about 1.2% of Pinnacle Financial Partners Inc’s holdings, making the stock its 16th biggest holding. Pinnacle Financial Partners Inc’s holdings in NVIDIA were worth $60,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. International Assets Investment Management LLC increased its position in NVIDIA by 12,898.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after acquiring an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC bought a new stake in shares of NVIDIA during the third quarter valued at approximately $4,589,905,000. Geode Capital Management LLC increased its holdings in shares of NVIDIA by 2.2% in 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 purchasing an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NVIDIA by 3.8% in the 3rd 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. Finally, National Pension Service raised its position in NVIDIA by 14.9% in the 3rd quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock worth $5,734,483,000 after purchasing an additional 6,118,674 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $109.67 on Friday. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $195.95. The company’s fifty day simple moving average is $125.01 and its 200-day simple moving average is $131.34. The firm has a market cap of $2.68 trillion, a PE ratio of 43.16, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

NVDA has been the subject of several research reports. HSBC lowered their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wedbush reiterated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Mizuho dropped their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Bank of America reissued a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $171.51.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,609 shares of company stock valued at $22,642,615 in the last 90 days. 4.23% of the stock is currently owned by insiders.

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.