NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Westpac Banking Corp

Westpac Banking Corp lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 7.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 767,007 shares of the computer hardware maker's stock after acquiring an additional 50,575 shares during the period. NVIDIA accounts for about 6.8% of Westpac Banking Corp's portfolio, making the stock its 2nd largest position. Westpac Banking Corp's holdings in NVIDIA were worth $103,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new position in NVIDIA during the 4th quarter worth approximately $43,515,504,000. Clear Street Derivatives LLC bought a new stake in shares of NVIDIA during the third quarter valued at approximately $4,589,905,000. Proficio Capital Partners LLC raised its position in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. GQG Partners LLC lifted its holdings in shares of NVIDIA by 132.3% in the 4th quarter. GQG Partners LLC now owns 25,697,930 shares of the computer hardware maker's stock worth $3,450,975,000 after purchasing an additional 14,636,057 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in NVIDIA by 26.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 65,827,070 shares of the computer hardware maker's stock valued at $8,840,117,000 after purchasing an additional 13,571,425 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,147 shares of company stock valued at $17,133,207. Corporate insiders own 4.23% of the company's stock.

NVIDIA Stock Up 2.6 %

NVIDIA stock opened at $114.50 on Monday. The firm has a 50 day simple moving average of $110.85 and a 200 day simple moving average of $128.08. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. The firm has a market capitalization of $2.79 trillion, a price-to-earnings ratio of 45.06, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating 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 company had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. On average, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given 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 (DPR) is currently 1.36%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVDA. Mizuho dropped their price objective on shares of NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Piper Sandler reaffirmed an "overweight" rating on shares of NVIDIA in a research report on Friday, April 25th. DZ Bank upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Bank of America lowered their price objective on NVIDIA from $200.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, April 25th. One research 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 stock. According to MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and an average target price of $164.96.

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.

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