NVIDIA Co. (NASDAQ:NVDA) is Western Pacific Wealth Management LP’s 7th Largest Position

Western Pacific Wealth Management LP reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,605 shares of the computer hardware maker’s stock after selling 142 shares during the period. NVIDIA accounts for about 3.3% of Western Pacific Wealth Management LP’s portfolio, making the stock its 7th largest holding. Western Pacific Wealth Management LP’s holdings in NVIDIA were worth $4,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Global Strategic Investment Solutions LLC raised its stake in NVIDIA by 5.9% during the third quarter. Global Strategic Investment Solutions LLC now owns 21,681 shares of the computer hardware maker’s stock worth $2,633,000 after purchasing an additional 1,208 shares during the period. JB Capital LLC increased its holdings in shares of NVIDIA by 5.6% during the 3rd quarter. JB Capital LLC now owns 37,157 shares of the computer hardware maker’s stock worth $4,512,000 after buying an additional 1,983 shares during the last quarter. Keudell Morrison Wealth Management raised its position in shares of NVIDIA by 0.6% during the 3rd quarter. Keudell Morrison Wealth Management now owns 20,706 shares of the computer hardware maker’s stock valued at $2,515,000 after buying an additional 132 shares during the period. Valley Brook Capital Group Inc. lifted its holdings in NVIDIA by 2.5% in the third quarter. Valley Brook Capital Group Inc. now owns 33,386 shares of the computer hardware maker’s stock valued at $4,054,000 after acquiring an additional 830 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its position in NVIDIA by 2.6% in the third quarter. Kornitzer Capital Management Inc. KS now owns 256,490 shares of the computer hardware maker’s stock worth $31,148,000 after acquiring an additional 6,475 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the transaction, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. The trade was a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,556,986 shares of company stock valued at $201,687,727. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC raised their price objective on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. William Blair began coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. The Goldman Sachs Group lifted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Robert W. Baird lifted their price objective on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Mizuho increased their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Performance

NASDAQ: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 company has a market capitalization of $3.30 trillion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $139.63 and a two-hundred day moving average price of $127.32.

NVIDIA (NASDAQ:NVDA) last issued 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 firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. As a group, research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

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

NVIDIA Announces Dividend

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