Pinnacle Financial Partners Inc. Has $3.56 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Pinnacle Financial Partners Inc. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,800 shares of the computer hardware maker’s stock after purchasing an additional 874 shares during the period. Pinnacle Financial Partners Inc.’s holdings in NVIDIA were worth $3,557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Fund Management LLC raised its position in NVIDIA by 6.4% during the third quarter. Royal Fund Management LLC now owns 1,367 shares of the computer hardware maker’s stock valued at $739,000 after purchasing an additional 82 shares in the last quarter. PFG Advisors raised its position in NVIDIA by 6.4% during the third quarter. PFG Advisors now owns 3,514 shares of the computer hardware maker’s stock valued at $1,963,000 after purchasing an additional 212 shares in the last quarter. Bainco International Investors raised its position in NVIDIA by 3.2% during the fourth quarter. Bainco International Investors now owns 12,494 shares of the computer hardware maker’s stock valued at $6,525,000 after purchasing an additional 385 shares in the last quarter. Envestnet Asset Management Inc. raised its position in NVIDIA by 3.7% during the third quarter. Envestnet Asset Management Inc. now owns 317,927 shares of the computer hardware maker’s stock valued at $172,068,000 after purchasing an additional 11,341 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in NVIDIA by 22.1% during the third quarter. Johnson Investment Counsel Inc. now owns 8,496 shares of the computer hardware maker’s stock valued at $4,598,000 after purchasing an additional 1,539 shares in the last quarter. Institutional investors and hedge funds own 61.27% of the company’s stock.

NVDA stock opened at $541.27 on Thursday. The firm has a market cap of $335.05 billion, a price-to-earnings ratio of 88.59, a PEG ratio of 3.76 and a beta of 1.47. The company has a quick ratio of 3.52, a current ratio of 3.92 and a debt-to-equity ratio of 0.39. NVIDIA Co. has a 12-month low of $180.68 and a 12-month high of $589.07. The company’s fifty day simple moving average is $529.17 and its 200 day simple moving average is $498.57.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Tuesday, November 17th. The computer hardware maker reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.34. NVIDIA had a net margin of 25.89% and a return on equity of 32.61%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.42 billion. Research analysts expect that NVIDIA Co. will post 7.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 29th. Stockholders of record on Friday, December 4th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, December 3rd. This represents a $0.64 annualized dividend and a dividend yield of 0.12%. NVIDIA’s dividend payout ratio is currently 13.94%.

In other news, Director John Dabiri sold 185 shares of the company’s stock in a transaction dated Wednesday, December 23rd. The shares were sold at an average price of $529.85, for a total transaction of $98,022.25. Following the transaction, the director now owns 1,251 shares in the company, valued at $662,842.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress acquired 200 shares of the company’s stock in a transaction dated Thursday, December 3rd. The shares were bought at an average price of $536.95 per share, for a total transaction of $107,390.00. The disclosure for this purchase can be found here. Insiders have sold 40,164 shares of company stock worth $21,990,509 in the last quarter. Company insiders own 4.47% of the company’s stock.

Several brokerages have commented on NVDA. JPMorgan Chase & Co. boosted their price objective on shares of NVIDIA from $510.00 to $605.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. Zacks Investment Research raised shares of NVIDIA from a “hold” rating to a “buy” rating and set a $567.00 target price on the stock in a research note on Tuesday, October 20th. Cascend Securities boosted their target price on shares of NVIDIA from $610.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, November 12th. Barclays boosted their target price on shares of NVIDIA from $525.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, November 19th. Finally, Bank of America boosted their target price on shares of NVIDIA from $650.00 to $665.00 and gave the stock a “buy” rating in a research note on Thursday, November 19th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $545.84.

NVIDIA Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and EGX for accelerated AI computing at the edge.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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