West Oak Capital LLC Cuts Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

West Oak Capital LLC decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,183 shares of the computer hardware maker's stock after selling 8,535 shares during the quarter. NVIDIA comprises 2.9% of West Oak Capital LLC's holdings, making the stock its 3rd largest holding. West Oak Capital LLC's holdings in NVIDIA were worth $7,606,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NVDA. Wealth Group Ltd. boosted its holdings in NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after purchasing an additional 100 shares during the last quarter. Tallon Kerry Patrick purchased a new position in shares of NVIDIA in the 4th quarter worth approximately $972,000. Capital & Planning LLC increased its position in shares of NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after acquiring an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. grew its stake in NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after purchasing an additional 104 shares during the period. Finally, Brighton Jones LLC increased its position in shares of NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after purchasing an additional 35,815 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director A Brooke Seawell sold 54,467 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $146.88, for a total value of $8,000,112.96. Following the completion of the transaction, the director now directly owns 1,834,570 shares in the company, valued at $269,461,641.60. This trade represents a 2.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer now directly owns 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,468,863 shares of company stock valued at $495,150,332 over the last three months. Corporate insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Raymond James Financial upped their price objective on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. Bank of America increased their price objective on NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler reiterated an "overweight" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.78.

NVIDIA Trading Up 0.5%

NVDA opened at $155.02 on Friday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $156.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The business has a 50 day simple moving average of $129.83 and a two-hundred day simple moving average of $126.89. The firm has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 50.01, a PEG ratio of 1.36 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

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.

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