NVIDIA Corporation $NVDA is PNC Financial Services Group Inc.’s 10th Largest Position

PNC Financial Services Group Inc. lifted its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,092,364 shares of the computer hardware maker’s stock after buying an additional 469,134 shares during the period. NVIDIA makes up approximately 1.0% of PNC Financial Services Group Inc.’s portfolio, making the stock its 10th biggest holding. PNC Financial Services Group Inc.’s holdings in NVIDIA were worth $1,594,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Morton Brown Family Wealth LLC grew its stake in NVIDIA by 1.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 3,928 shares of the computer hardware maker’s stock valued at $621,000 after purchasing an additional 58 shares during the period. Roof Eidam Maycock Peralta LLC grew its position in NVIDIA by 0.3% during the second quarter. Roof Eidam Maycock Peralta LLC now owns 20,903 shares of the computer hardware maker’s stock valued at $3,302,000 after buying an additional 58 shares during the period. Alpha Wealth Funds LLC increased its holdings in NVIDIA by 1.3% during the second quarter. Alpha Wealth Funds LLC now owns 4,634 shares of the computer hardware maker’s stock worth $732,000 after buying an additional 59 shares during the last quarter. Copia Wealth Management increased its holdings in NVIDIA by 14.7% during the second quarter. Copia Wealth Management now owns 468 shares of the computer hardware maker’s stock worth $74,000 after buying an additional 60 shares during the last quarter. Finally, BKM Wealth Management LLC raised its position in NVIDIA by 1.1% in the second quarter. BKM Wealth Management LLC now owns 5,745 shares of the computer hardware maker’s stock worth $908,000 after acquiring an additional 60 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $177.57, for a total value of $13,317,750.00. Following the transaction, the chief executive officer owned 72,248,366 shares of the company’s stock, valued at approximately $12,829,142,350.62. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harvey C. Jones sold 250,000 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $176.21, for a total value of $44,052,500.00. Following the completion of the sale, the director owned 7,183,280 shares in the company, valued at $1,265,765,768.80. This trade represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,949,931 shares of company stock worth $531,605,955 in the last three months. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Stock Down 0.5%

Shares of NASDAQ NVDA opened at $182.41 on Friday. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.43 trillion, a P/E ratio of 45.26, a P/E/G ratio of 0.90 and a beta of 2.29. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $212.19. The business has a 50-day simple moving average of $187.13 and a two-hundred day simple moving average of $171.82.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The firm had revenue of $57.01 billion for the quarter, compared to the consensus estimate of $54.66 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 62.5% on a year-over-year basis. Research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s dividend payout ratio (DPR) is presently 0.99%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NVDA shares. Evercore ISI set a $352.00 target price on shares of NVIDIA and gave the company an “outperform” rating in a research report on Thursday, November 20th. Melius Research increased their price objective on NVIDIA from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Benchmark boosted their target price on NVIDIA from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $265.00 price target (up previously from $220.00) on shares of NVIDIA in a research report on Friday, November 14th. Finally, Rothschild & Co Redburn lifted their price objective on NVIDIA from $211.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Five research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $258.65.

NVIDIA 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.