NVIDIA Corporation (NASDAQ:NVDA) Position Trimmed by Western Pacific Wealth Management LP

Western Pacific Wealth Management LP decreased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,036 shares of the computer hardware maker's stock after selling 2,868 shares during the period. NVIDIA accounts for 3.6% of Western Pacific Wealth Management LP's portfolio, making the stock its 8th largest position. Western Pacific Wealth Management LP's holdings in NVIDIA were worth $4,014,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Tacita Capital Inc purchased a new stake in NVIDIA during the 4th quarter valued at about $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the fourth quarter worth about $38,000. Copia Wealth Management bought a new position in shares of NVIDIA in the fourth quarter worth approximately $50,000. Bruce G. Allen Investments LLC grew its holdings in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $54,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NVDA. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research note on Thursday, April 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $175.78.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,044,919 shares of company stock valued at $584,414,209 over the last three months. Insiders own 4.17% of the company's stock.

NVIDIA Stock Up 2.6%

NASDAQ NVDA opened at $157.25 on Thursday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $158.71. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.84 trillion, a P/E ratio of 50.73, a price-to-earnings-growth ratio of 1.36 and a beta of 2.13. The stock's 50-day moving average price is $134.36 and its 200-day moving average price is $127.45.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the prior year, the company posted $0.61 earnings per share. The company's revenue was up 69.2% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.29%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.