WESPAC Advisors SoCal LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 296.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,160 shares of the computer hardware maker’s stock after purchasing an additional 20,307 shares during the quarter. NVIDIA accounts for approximately 1.8% of WESPAC Advisors SoCal LLC’s investment portfolio, making the stock its 25th largest holding. WESPAC Advisors SoCal LLC’s holdings in NVIDIA were worth $5,555,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in NVDA. Marquette Asset Management LLC lifted its holdings in NVIDIA by 300.0% in the third quarter. Marquette Asset Management LLC now owns 120 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 90 shares during the period. Global Trust Asset Management LLC lifted its holdings in NVIDIA by 300.0% in the third quarter. Global Trust Asset Management LLC now owns 124 shares of the computer hardware maker’s stock valued at $26,000 after acquiring an additional 93 shares during the period. PrairieView Partners LLC lifted its holdings in NVIDIA by 300.0% in the third quarter. PrairieView Partners LLC now owns 200 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 150 shares during the period. Regency Capital Management Inc. DE acquired a new position in NVIDIA in the first quarter valued at approximately $43,000. Finally, Perkins Coie Trust Co lifted its holdings in NVIDIA by 151.7% in the third quarter. Perkins Coie Trust Co now owns 224 shares of the computer hardware maker’s stock valued at $46,000 after acquiring an additional 135 shares during the period. 19.24% of the stock is owned by hedge funds and other institutional investors.
NVDA stock traded up $9.28 during mid-day trading on Thursday, reaching $326.74. The company had a trading volume of 43,469,906 shares, compared to its average volume of 34,447,004. The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.33 and a current ratio of 5.80. The company has a market capitalization of $814.24 billion, a price-to-earnings ratio of 116.48, a price-to-earnings-growth ratio of 4.45 and a beta of 1.46. The firm has a fifty day simple moving average of $248.30 and a 200 day simple moving average of $210.84. NVIDIA Co. has a fifty-two week low of $115.67 and a fifty-two week high of $346.47.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 23rd. Investors of record on Thursday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, December 1st. This represents a $0.16 dividend on an annualized basis and a yield of 0.05%. NVIDIA’s dividend payout ratio is presently 5.70%.
A number of research analysts have issued reports on NVDA shares. Citigroup boosted their price target on NVIDIA from $223.00 to $350.00 and gave the company a “buy” rating in a report on Monday, November 15th. Rosenblatt Securities boosted their price objective on NVIDIA from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, August 19th. Susquehanna Bancshares boosted their price objective on NVIDIA from $250.00 to $360.00 and gave the company a “positive” rating in a research report on Thursday, November 11th. BMO Capital Markets boosted their price objective on NVIDIA from $250.00 to $375.00 in a research report on Monday. Finally, Credit Suisse Group boosted their price objective on NVIDIA from $225.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, November 16th. Three equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $326.78.
In other NVIDIA news, Director Mark A. Stevens sold 58,000 shares of the stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $342.58, for a total transaction of $19,869,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Persis Drell sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 19th. The shares were sold at an average price of $326.65, for a total value of $3,266,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 78,000 shares of company stock worth $25,222,940 in the last 90 days. 4.47% of the stock is currently owned by company insiders.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment comprises of product brands, which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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