WESPAC Advisors SoCal LLC Cuts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

WESPAC Advisors SoCal LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 70,845 shares of the computer hardware maker’s stock after selling 7,072 shares during the period. NVIDIA comprises approximately 2.2% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 15th largest position. WESPAC Advisors SoCal LLC’s holdings in NVIDIA were worth $9,514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sloy Dahl & Holst LLC increased its holdings in shares of NVIDIA by 4.2% in the 4th quarter. Sloy Dahl & Holst LLC now owns 223,039 shares of the computer hardware maker’s stock worth $29,952,000 after purchasing an additional 8,895 shares in the last quarter. Tempus Wealth Planning LLC boosted its position in shares of NVIDIA by 7.6% during the fourth quarter. Tempus Wealth Planning LLC now owns 81,611 shares of the computer hardware maker’s stock valued at $10,960,000 after buying an additional 5,780 shares during the last quarter. WJ Wealth Management LLC increased its holdings in NVIDIA by 0.4% in the 4th quarter. WJ Wealth Management LLC now owns 122,656 shares of the computer hardware maker’s stock worth $16,472,000 after buying an additional 492 shares in the last quarter. Flavin Financial Services Inc. purchased a new position in NVIDIA in the 4th quarter worth about $1,574,000. Finally, Mokosak Advisory Group LLC purchased a new position in NVIDIA in the 4th quarter worth about $247,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Down 8.7 %

Shares of NVDA opened at $114.06 on Tuesday. The stock has a market capitalization of $2.78 trillion, a PE ratio of 44.89, a P/E/G ratio of 1.76 and a beta of 1.62. The company’s fifty day moving average is $133.68 and its 200 day moving average is $132.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. Sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NVDA shares. HSBC reduced their price target on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Bank of America lifted their target price on shares of NVIDIA from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Piper Sandler increased their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Finally, Oppenheimer reissued an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $169.62.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is currently owned by company insiders.

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.