WESPAC Advisors SoCal LLC Acquires 59,204 Shares of NVIDIA Co. (NASDAQ:NVDA)

WESPAC Advisors SoCal LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 271.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,026 shares of the computer hardware maker’s stock after acquiring an additional 59,204 shares during the quarter. NVIDIA comprises approximately 2.5% of WESPAC Advisors SoCal LLC’s portfolio, making the stock its 15th biggest holding. WESPAC Advisors SoCal LLC’s holdings in NVIDIA were worth $10,010,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA during the 1st quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of NVIDIA during the 1st quarter valued at $27,000. HBC Financial Services PLLC purchased a new position in shares of NVIDIA during the 1st quarter valued at $30,000. Norwood Financial Corp purchased a new position in shares of NVIDIA during the 1st quarter valued at $45,000. Finally, Coston McIsaac & Partners grew its position in shares of NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the transaction, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the transaction, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 156,023 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $129.81, for a total transaction of $20,253,345.63. Following the transaction, the director now directly owns 8,585,217 shares of the company’s stock, valued at approximately $1,114,447,018.77. The disclosure for this sale can be found here. Insiders sold a total of 3,725,633 shares of company stock valued at $451,910,522 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NVDA shares. Mizuho boosted their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Jefferies Financial Group boosted their price target on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Raymond James upped their target price on shares of NVIDIA from $120.00 to $140.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Westpark Capital upped their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Craig Hallum upped their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

NVIDIA Price Performance

NVDA stock opened at $116.91 on Thursday. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The company has a market cap of $2.88 trillion, a P/E ratio of 68.37, a PEG ratio of 0.93 and a beta of 1.67. The firm has a 50-day moving average of $117.74 and a 200 day moving average of $105.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. NVIDIA’s revenue was up 122.4% on a year-over-year basis. On average, sell-side analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s payout ratio is currently 2.34%.

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.