NVIDIA Co. (NASDAQ:NVDA) is Westpac Banking Corp's 2nd Largest Position

Westpac Banking Corp raised its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 767,007 shares of the computer hardware maker's stock after purchasing an additional 50,575 shares during the period. NVIDIA accounts for about 6.8% of Westpac Banking Corp's holdings, making the stock its 2nd biggest position. Westpac Banking Corp's holdings in NVIDIA were worth $103,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares during the period. Norges Bank bought a new stake in shares of NVIDIA during the 4th quarter valued at $43,515,504,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in NVIDIA by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker's stock worth $21,908,236,000 after purchasing an additional 6,526,200 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in NVIDIA by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 151,280,130 shares of the computer hardware maker's stock worth $20,315,409,000 after purchasing an additional 5,211,040 shares during the period. Finally, Amundi grew its holdings in NVIDIA by 12.9% during the 4th quarter. Amundi now owns 117,036,612 shares of the computer hardware maker's stock valued at $16,394,224,000 after buying an additional 13,406,054 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NVDA shares. Barclays lowered their price target on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Citigroup restated a "buy" rating on shares of NVIDIA in a research report on Wednesday, April 16th. Piper Sandler reiterated an "overweight" rating on shares of NVIDIA in a research report on Friday, April 25th. Finally, Summit Insights cut NVIDIA from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $164.96.

Insider Activity

In related news, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now directly owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock valued at $17,133,207 over the last three months. Insiders own 4.23% of the company's stock.

NVIDIA Stock Up 0.2 %

NASDAQ NVDA traded up $0.18 during mid-day trading on Thursday, reaching $117.24. The stock had a trading volume of 59,024,588 shares, compared to its average volume of 283,551,938. The company has a fifty day moving average price of $110.21 and a 200 day moving average price of $127.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $153.13. The stock has a market cap of $2.86 trillion, a PE ratio of 46.14, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. On average, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.36%.

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.