NVIDIA Co. (NASDAQ:NVDA) is West Branch Capital LLC’s 2nd Largest Position

West Branch Capital LLC reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,864 shares of the computer hardware maker’s stock after selling 5,776 shares during the period. NVIDIA comprises 10.3% of West Branch Capital LLC’s holdings, making the stock its 2nd largest position. West Branch Capital LLC’s holdings in NVIDIA were worth $29,736,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hamilton Wealth LLC boosted its holdings in NVIDIA by 0.3% in the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the period. Poehling Capital Management INC. grew its stake in NVIDIA by 0.9% during the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock worth $1,442,000 after buying an additional 14 shares during the last quarter. FSA Wealth Management LLC lifted its stake in NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after buying an additional 14 shares during the last quarter. Clean Yield Group grew its position in shares of NVIDIA by 0.8% during the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after acquiring an additional 15 shares during the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of NVIDIA by 1.5% in the first quarter. Earnest Partners LLC now owns 1,133 shares of the computer hardware maker’s stock valued at $1,024,000 after buying an additional 17 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mark A. Stevens sold 165,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total transaction of $20,021,677.00. Following the transaction, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 over the last 90 days. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on NVDA. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Monday, November 18th. Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. UBS Group upped their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen upped their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

NVDA stock opened at $136.92 on Wednesday. The company has a 50-day simple moving average of $134.82 and a 200 day simple moving average of $123.17. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.35 trillion, a P/E ratio of 53.88, a PEG ratio of 2.60 and a beta of 1.66. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. Sell-side analysts predict that NVIDIA Co. will post 2.73 earnings per share for the current fiscal year.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

About NVIDIA

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.