Pettinga Financial Advisors LLC Has $929,000 Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Pettinga Financial Advisors LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,651 shares of the computer hardware maker’s stock after selling 924 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in NVIDIA were worth $929,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NVDA. Lantz Financial LLC raised its position in shares of NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after purchasing an additional 36,774 shares during the period. Demars Financial Group LLC increased its stake in NVIDIA by 923.6% during the 2nd quarter. Demars Financial Group LLC now owns 42,663 shares of the computer hardware maker’s stock valued at $5,271,000 after purchasing an additional 38,495 shares in the last quarter. Financial Partners Group Inc raised its holdings in NVIDIA by 1,051.0% during the second quarter. Financial Partners Group Inc now owns 38,524 shares of the computer hardware maker’s stock worth $4,759,000 after buying an additional 35,177 shares during the last quarter. Integris Wealth Management LLC lifted its stake in shares of NVIDIA by 898.7% in the second quarter. Integris Wealth Management LLC now owns 3,056 shares of the computer hardware maker’s stock valued at $378,000 after buying an additional 2,750 shares in the last quarter. Finally, Clay Northam Wealth Management LLC grew its holdings in shares of NVIDIA by 905.3% during the second quarter. Clay Northam Wealth Management LLC now owns 28,218 shares of the computer hardware maker’s stock valued at $3,486,000 after buying an additional 25,411 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 4.5 %

NVDA opened at $144.47 on Friday. NVIDIA Co. has a 12 month low of $47.51 and a 12 month high of $152.89. 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’s 50-day moving average price is $139.51 and its 200-day moving average price is $128.16. The company has a market cap of $3.54 trillion, a P/E ratio of 56.86, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. On average, equities analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,226,886 shares of company stock valued at $161,499,400 in the last quarter. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NVDA shares. HSBC raised their price target on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Citigroup upped their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Evercore ISI raised their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler upped their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Phillip Securities reissued an “accumulate” rating and set a $160.00 price target (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.