NVIDIA Co. (NASDAQ:NVDA) is Western Financial Corp CA’s 7th Largest Position

Western Financial Corp CA lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 22.0% during the third quarter, HoldingsChannel.com reports. The fund owned 24,544 shares of the computer hardware maker’s stock after selling 6,939 shares during the quarter. NVIDIA makes up about 1.7% of Western Financial Corp CA’s portfolio, making the stock its 7th biggest holding. Western Financial Corp CA’s holdings in NVIDIA were worth $2,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA during the first quarter worth about $27,000. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the 3rd quarter worth approximately $27,000. Finally, CGC Financial Services LLC purchased a new position in NVIDIA in the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 1.2 %

Shares of NASDAQ:NVDA opened at $135.34 on Friday. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.31 trillion, a PE ratio of 53.28, a P/E/G ratio of 2.46 and a beta of 1.66. The company’s 50-day moving average price is $135.61 and its 200 day moving average price is $123.34.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

NVIDIA announced that its board has approved a share buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NVDA shares. Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Craig Hallum boosted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Redburn Atlantic initiated coverage on NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. This represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,036,986 shares of company stock valued at $240,602,399. Company insiders own 4.23% of the company’s stock.

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.