Pinnacle Investment Management Ltd Sells 5,500 Shares of NVIDIA Corporation $NVDA

Key Points

• Pinnacle Investment Management Ltd reduced its stake in NVIDIA Corporation by 47.8%, selling 5,500 shares, leaving the firm with approximately 6,000 shares now worth $650,000.
• NVIDIA reported a 55.6% year-over-year revenue increase to $46.74 billion, with an EPS of $1.05, exceeding the consensus estimate of $1.01.
• Analysts have recently raised their price targets for NVIDIA, with updates from Jefferies and UBS suggesting a target range of $205.00 to $240.00 on a "buy" rating.

Pinnacle Investment Management Ltd reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 47.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,000 shares of the computer hardware maker's stock after selling 5,500 shares during the period. NVIDIA makes up approximately 7.0% of Pinnacle Investment Management Ltd's holdings, making the stock its 4th biggest holding. Pinnacle Investment Management Ltd's holdings in NVIDIA were worth $650,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. 1248 Management LLC raised its holdings in NVIDIA by 56.0% during the 1st quarter. 1248 Management LLC now owns 57,621 shares of the computer hardware maker's stock worth $6,246,000 after buying an additional 20,677 shares during the period. First Long Island Investors LLC raised its holdings in NVIDIA by 3.1% during the 1st quarter. First Long Island Investors LLC now owns 385,955 shares of the computer hardware maker's stock worth $41,830,000 after buying an additional 11,496 shares during the period. Nicola Wealth Management LTD. acquired a new stake in NVIDIA during the 1st quarter worth approximately $5,744,000. Cim LLC raised its holdings in shares of NVIDIA by 4.2% in the first quarter. Cim LLC now owns 268,671 shares of the computer hardware maker's stock valued at $29,119,000 after purchasing an additional 10,874 shares during the last quarter. Finally, Osterweis Capital Management Inc. raised its holdings in shares of NVIDIA by 20.3% in the first quarter. Osterweis Capital Management Inc. now owns 339,121 shares of the computer hardware maker's stock valued at $36,754,000 after purchasing an additional 57,340 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

NASDAQ:NVDA opened at $177.75 on Tuesday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The company has a market cap of $4.32 trillion, a P/E ratio of 50.64, a P/E/G ratio of 1.29 and a beta of 2.10. The firm's fifty day moving average price is $174.81 and its two-hundred day moving average price is $142.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The computer hardware maker reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. The firm had revenue of $46.74 billion for the quarter, compared to the consensus estimate of $45.65 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The company's quarterly revenue was up 55.6% on a year-over-year basis. NVIDIA has set its Q3 2026 guidance at EPS. Equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Thursday, September 11th. NVIDIA's payout ratio is currently 1.14%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 608,248 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $145.26, for a total transaction of $88,354,104.48. Following the completion of the transaction, the director owned 8,247,600 shares in the company, valued at approximately $1,198,046,376. This represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,405,552 shares of company stock worth $721,811,877 over the last ninety days. Insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of NVIDIA from $200.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, August 28th. UBS Group lifted their price objective on shares of NVIDIA from $175.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, August 21st. The Goldman Sachs Group reiterated a "buy" rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, August 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $240.00 price objective on shares of NVIDIA in a report on Thursday, August 28th. Finally, Citigroup lowered their price objective on shares of NVIDIA from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, September 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $207.83.

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.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.