Pinnacle West Asset Management Inc. Reduces Holdings in NVIDIA Co. (NASDAQ:NVDA)

Pinnacle West Asset Management Inc. trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,940 shares of the computer hardware maker's stock after selling 3,350 shares during the quarter. NVIDIA accounts for 2.8% of Pinnacle West Asset Management Inc.'s portfolio, making the stock its 4th largest holding. Pinnacle West Asset Management Inc.'s holdings in NVIDIA were worth $3,886,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter worth $34,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at $40,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker's stock worth $41,000 after acquiring an additional 140 shares during the period. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the 4th quarter valued at about $46,000. Finally, 1620 Investment Advisors Inc. increased its stake in NVIDIA by 145.9% in the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker's stock valued at $51,000 after acquiring an additional 248 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Thursday. Rosenblatt Securities reiterated a "buy" rating and issued a $220.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Truist Financial increased their price objective on NVIDIA from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Bank of America restated a "buy" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, DZ Bank upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.89.

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Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the 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 transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 183,609 shares of company stock worth $22,642,615. Corporate insiders own 4.23% of the company's stock.

NVIDIA Stock Down 6.6 %

Shares of NVDA stock traded down $6.72 during trading hours on Friday, hitting $95.08. 112,944,354 shares of the company were exchanged, compared to its average volume of 312,067,650. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $122.16 and a two-hundred day moving average of $131.11. The company has a market capitalization of $2.32 trillion, a PE ratio of 37.45, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. Analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is presently 1.36%.

NVIDIA Company 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.