West Branch Capital LLC Cuts Position in NVIDIA Corporation (NASDAQ:NVDA)

West Branch Capital LLC decreased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,610 shares of the computer hardware maker's stock after selling 25,924 shares during the quarter. NVIDIA accounts for approximately 8.0% of West Branch Capital LLC's holdings, making the stock its 2nd largest holding. West Branch Capital LLC's holdings in NVIDIA were worth $24,018,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $50,000. Bruce G. Allen Investments LLC increased its position in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after acquiring an additional 327 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity at NVIDIA

In related news, Director A Brooke Seawell sold 51,740 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $154.62, for a total value of $8,000,038.80. Following the completion of the sale, the director directly owned 1,576,709 shares in the company, valued at $243,790,745.58. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president 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 sold 4,044,919 shares of company stock worth $584,414,209 over the last three months. Company insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA traded down $4.69 during trading on Tuesday, hitting $153.30. 212,546,095 shares of the company were exchanged, compared to its average volume of 268,610,702. The business's 50 day moving average is $132.18 and its 200-day moving average is $127.06. The company has a market capitalization of $3.74 trillion, a P/E ratio of 49.45, a price-to-earnings-growth ratio of 1.40 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $158.71.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly 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). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the company posted $0.61 earnings per share. Equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Raymond James Financial lifted their target price on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and set a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Citigroup reissued a "buy" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research report on Thursday, April 3rd. Finally, Arete Research raised NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.78.

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.