Western Financial Corp CA Sells 4,692 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Western Financial Corp CA reduced its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 22.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,049 shares of the computer hardware maker's stock after selling 4,692 shares during the quarter. NVIDIA makes up 1.0% of Western Financial Corp CA's investment portfolio, making the stock its 25th largest holding. Western Financial Corp CA's holdings in NVIDIA were worth $1,739,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $38,000. Copia Wealth Management acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $50,000. LSV Asset Management acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $54,000. Finally, Bruce G. Allen Investments LLC lifted 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 worth $53,000 after buying an additional 327 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 0.3%

NVIDIA stock traded down $0.59 during mid-day trading on Friday, hitting $172.41. The stock had a trading volume of 145,724,125 shares, compared to its average volume of 264,006,945. The stock has a 50-day simple moving average of $145.88 and a two-hundred day simple moving average of $129.63. The stock has a market capitalization of $4.21 trillion, a PE ratio of 55.62, a P/E/G ratio of 1.51 and a beta of 2.13. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.16. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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 firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 EPS. As a group, sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVDA. Truist Financial upped their price target on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Needham & Company LLC upped their price target on NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday. TD Cowen upped their target price on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Finally, Raymond James Financial upped their target price on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $181.22.

Insider Activity at NVIDIA

In related news, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director directly owned 1,729,478 shares in the company, valued at $283,565,212.88. This trade represents a 2.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $164.36, for a total transaction of $12,327,000.00. Following the completion of the sale, the chief executive officer owned 74,648,225 shares in the company, valued at $12,269,182,261. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,814,800 shares of company stock worth $709,172,753 in the last ninety days. Company insiders own 4.17% of the company's stock.

NVIDIA 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.