Pinney & Scofield Inc. Takes $2.43 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Pinney & Scofield Inc. acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,121 shares of the computer hardware maker's stock, valued at approximately $2,433,000. NVIDIA makes up 1.9% of Pinney & Scofield Inc.'s portfolio, making the stock its 11th largest position.

Several other large investors have also bought and sold shares of NVDA. Regent Peak Wealth Advisors LLC lifted its stake in NVIDIA by 0.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 81,833 shares of the computer hardware maker's stock valued at $10,989,000 after acquiring an additional 322 shares in the last quarter. Wealth Group Ltd. raised its stake in shares of NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after purchasing an additional 100 shares during the period. Mason & Associates Inc raised its stake in shares of NVIDIA by 5.4% during the 4th quarter. Mason & Associates Inc now owns 39,789 shares of the computer hardware maker's stock worth $5,343,000 after purchasing an additional 2,029 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of NVIDIA by 10.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 148,930 shares of the computer hardware maker's stock worth $20,000,000 after purchasing an additional 14,363 shares during the period. Finally, IFS Advisors LLC raised its stake in shares of NVIDIA by 17.1% during the 4th quarter. IFS Advisors LLC now owns 1,060 shares of the computer hardware maker's stock worth $142,000 after purchasing an additional 155 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on NVDA. Needham & Company LLC reiterated a "buy" rating and set a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Benchmark reiterated a "buy" rating and set a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research note on Thursday, April 3rd. Rosenblatt Securities lifted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Bank of America lifted their target price on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $171.66.

NVIDIA Price Performance

Shares of NVDA traded down $1.93 during trading hours on Thursday, reaching $139.99. 228,903,974 shares of the company's stock traded hands, compared to its average volume of 282,161,719. The stock has a market cap of $3.42 trillion, a PE ratio of 55.09, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. 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 firm's 50 day simple moving average is $117.19 and its 200-day simple moving average is $126.42. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business's revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. Equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company's stock, valued at $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,257,983 shares of company stock valued at $172,973,349 over the last quarter. 4.17% of the stock is owned by corporate insiders.

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.