Westside Investment Management Inc. Decreases Position in NVIDIA Co. (NASDAQ:NVDA)

Westside Investment Management Inc. decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,810 shares of the computer hardware maker’s stock after selling 590 shares during the quarter. NVIDIA makes up approximately 0.9% of Westside Investment Management Inc.’s portfolio, making the stock its 26th biggest position. Westside Investment Management Inc.’s holdings in NVIDIA were worth $4,166,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ironwood Wealth Management LLC. lifted its position in shares of NVIDIA by 896.9% in the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after acquiring an additional 5,695 shares in the last quarter. Financial Guidance Group Inc. lifted its position in shares of NVIDIA by 900.0% in the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after acquiring an additional 3,240 shares in the last quarter. Tobam lifted its position in shares of NVIDIA by 811.4% in the second quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock valued at $5,126,000 after acquiring an additional 36,937 shares in the last quarter. Hudson Value Partners LLC lifted its position in shares of NVIDIA by 845.9% in the second quarter. Hudson Value Partners LLC now owns 34,675 shares of the computer hardware maker’s stock valued at $4,284,000 after acquiring an additional 31,009 shares in the last quarter. Finally, Modera Wealth Management LLC lifted its position in NVIDIA by 967.2% during the second quarter. Modera Wealth Management LLC now owns 115,348 shares of the computer hardware maker’s stock worth $14,250,000 after buying an additional 104,540 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVDA. Raymond James increased their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. HSBC cut their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Benchmark restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Tuesday, January 7th. Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Finally, Bank of America restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Four 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $147.07 on Thursday. The stock has a market cap of $3.60 trillion, a P/E ratio of 57.88, a price-to-earnings-growth ratio of 2.48 and a beta of 1.64. The firm’s fifty day simple moving average is $138.69 and its 200 day simple moving average is $129.22. NVIDIA Co. has a twelve month low of $58.58 and a twelve month high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm 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 company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, research analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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