West Wealth Group LLC Acquires 16,402 Shares of NVIDIA Co. (NASDAQ:NVDA)

West Wealth Group LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 892.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,239 shares of the computer hardware maker’s stock after buying an additional 16,402 shares during the quarter. NVIDIA comprises 0.8% of West Wealth Group LLC’s investment portfolio, making the stock its 20th largest position. West Wealth Group LLC’s holdings in NVIDIA were worth $2,253,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Hamilton Wealth LLC increased its holdings in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after buying an additional 9 shares in the last quarter. Brooklyn FI LLC lifted its stake in NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after acquiring an additional 12 shares during the period. Curran Financial Partners LLC grew its stake in shares of NVIDIA by 1.8% in the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC raised its holdings in shares of NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after purchasing an additional 12 shares during the last quarter. Finally, M. Kraus & Co lifted its position in NVIDIA by 2.0% during the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after purchasing an additional 13 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on NVDA. Needham & Company LLC lifted their target price on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Citigroup increased their target price on NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. HSBC boosted their price target on NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Wedbush reiterated an “outperform” rating and issued a $138.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total transaction of $16,092,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,254,995 shares of the company’s stock, valued at $10,628,094,829.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $134.10, for a total value of $16,092,000.00. Following the completion of the sale, the chief executive officer now owns 79,254,995 shares of the company’s stock, valued at $10,628,094,829.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at approximately $57,370,572.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,197,403 shares of company stock valued at $501,955,984. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Down 3.7 %

Shares of NVDA opened at $117.00 on Wednesday. The stock has a market capitalization of $2.88 trillion, a PE ratio of 68.42, a P/E/G ratio of 1.05 and a beta of 1.67. The company’s fifty day moving average is $115.72 and its 200 day moving average is $108.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Sell-side analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA declared that its board has approved a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.