Pittenger & Anderson Inc. Trims Position in NVIDIA Co. (NASDAQ:NVDA)

Pittenger & Anderson Inc. decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 93,258 shares of the computer hardware maker’s stock after selling 1,794 shares during the quarter. Pittenger & Anderson Inc.’s holdings in NVIDIA were worth $12,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the fourth quarter worth approximately $34,000. Luken Investment Analytics LLC acquired a new position in NVIDIA during the fourth quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the fourth quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. increased its position in NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after purchasing an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 0.7 %

Shares of NASDAQ:NVDA opened at $117.70 on Friday. The company has a market cap of $2.87 trillion, a PE ratio of 46.32, a P/E/G ratio of 1.76 and a beta of 1.77. The company’s 50-day moving average price is $126.92 and its 200 day moving average price is $131.18. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. 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 data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current 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 given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Insiders Place Their Bets

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,109 shares of company stock worth $22,117,015. 4.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of several research analyst reports. Susquehanna reaffirmed a “positive” rating and set a $180.00 price target on shares of NVIDIA in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research report on Wednesday. DA Davidson dropped their price objective on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday. Mizuho dropped their price objective on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Finally, Bank of America reissued a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

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.