NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Western Pacific Wealth Management LP

Western Pacific Wealth Management LP lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,605 shares of the computer hardware maker’s stock after selling 142 shares during the period. NVIDIA makes up 3.3% of Western Pacific Wealth Management LP’s portfolio, making the stock its 7th biggest position. Western Pacific Wealth Management LP’s holdings in NVIDIA were worth $4,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. CGC Financial Services LLC purchased a new stake in NVIDIA during the 2nd quarter worth $26,000. Quest Partners LLC acquired a new position in shares of NVIDIA during the second quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA in the second quarter valued at about $31,000. Finally, FPC Investment Advisory Inc. raised its holdings in shares of NVIDIA by 900.0% during the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after buying an additional 261 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,556,986 shares of company stock valued at $201,687,727. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NVDA shares. 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. Benchmark raised their price target on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Bank of America reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Needham & Company LLC raised their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Westpark Capital boosted their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

NVDA opened at $134.70 on Friday. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The stock has a market cap of $3.30 trillion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The business’s 50 day moving average is $139.63 and its 200-day moving average is $127.32. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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

NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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.