Westend Capital Management LLC Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Westend Capital Management LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 339,447 shares of the computer hardware maker’s stock after purchasing an additional 3,265 shares during the quarter. NVIDIA makes up about 14.1% of Westend Capital Management LLC’s portfolio, making the stock its largest position. Westend Capital Management LLC’s holdings in NVIDIA were worth $41,222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its position in shares of NVIDIA by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after buying an additional 13,135 shares during the last quarter. Crown Wealth Group LLC increased its stake in NVIDIA by 28.7% during the first quarter. Crown Wealth Group LLC now owns 3,586 shares of the computer hardware maker’s stock valued at $3,240,000 after acquiring an additional 800 shares during the period. Harbor Advisors LLC raised its holdings in NVIDIA by 3.4% in the 1st quarter. Harbor Advisors LLC now owns 18,000 shares of the computer hardware maker’s stock valued at $16,264,000 after acquiring an additional 600 shares in the last quarter. Presilium Private Wealth LLC acquired a new position in NVIDIA in the 1st quarter valued at approximately $201,000. Finally, Better Money Decisions LLC lifted its position in shares of NVIDIA by 4.8% in the 1st quarter. Better Money Decisions LLC now owns 727 shares of the computer hardware maker’s stock worth $657,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA stock opened at $146.76 on Friday. The firm’s 50 day moving average price is $129.39 and its two-hundred day moving average price is $119.51. The stock has a market cap of $3.60 trillion, a PE ratio of 68.84, a PEG ratio of 1.56 and a beta of 1.66. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, analysts forecast that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 1.88%.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the transaction, the chief executive officer now directly owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. The trade was a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 in the last 90 days. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NVDA. Melius Research boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday. Raymond James boosted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday. Bank of America raised their price objective on shares of NVIDIA from $165.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Craig Hallum lifted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Mizuho increased their price target on shares of NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Company Profile

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.