PNC Financial Services Group Inc. Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

PNC Financial Services Group Inc. lifted its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 31.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,150,425 shares of the computer hardware maker's stock after purchasing an additional 2,189,311 shares during the quarter. NVIDIA accounts for about 0.8% of PNC Financial Services Group Inc.'s investment portfolio, making the stock its 18th largest holding. PNC Financial Services Group Inc.'s holdings in NVIDIA were worth $1,228,811,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the 4th quarter valued at $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the fourth quarter worth approximately $34,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the 4th quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Price Performance

NVIDIA stock traded up $1.86 during midday trading on Tuesday, reaching $112.57. The company had a trading volume of 153,269,870 shares, compared to its average volume of 313,507,301. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $195.95. The firm's fifty day simple moving average is $118.67 and its 200-day simple moving average is $130.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market capitalization of $2.75 trillion, a P/E ratio of 44.30, a P/E/G ratio of 1.76 and a beta of 1.96.

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NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating 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 business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. As a group, equities analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the transaction, the director now owns 53,208 shares in the company, valued at $6,300,891.36. The trade was a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVDA. Barclays upped their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. DZ Bank raised NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Wedbush reissued an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Citigroup cut their target price on NVIDIA from $163.00 to $150.00 and set a "buy" rating for the company in a research note on Friday. Six research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $168.26.

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.