WESPAC Advisors LLC Has $1.65 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

WESPAC Advisors LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,421.9% in the second quarter, Holdings Channel reports. The institutional investor owned 13,332 shares of the computer hardware maker’s stock after buying an additional 12,456 shares during the quarter. NVIDIA accounts for about 1.3% of WESPAC Advisors LLC’s portfolio, making the stock its 17th biggest holding. WESPAC Advisors LLC’s holdings in NVIDIA were worth $1,647,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NVDA. Aveo Capital Partners LLC raised its holdings in NVIDIA by 30.5% in the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after acquiring an additional 549 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in NVIDIA by 60.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock valued at $7,188,000 after acquiring an additional 5,496 shares during the period. Intech Investment Management LLC boosted its holdings in NVIDIA by 22.8% during the fourth quarter. Intech Investment Management LLC now owns 536,954 shares of the computer hardware maker’s stock valued at $265,910,000 after purchasing an additional 99,609 shares in the last quarter. Fortis Capital Advisors LLC grew its stake in shares of NVIDIA by 7.2% in the 4th quarter. Fortis Capital Advisors LLC now owns 21,871 shares of the computer hardware maker’s stock valued at $10,831,000 after purchasing an additional 1,466 shares during the period. Finally, Insight Holdings Group LLC raised its holdings in shares of NVIDIA by 50.2% in the 4th quarter. Insight Holdings Group LLC now owns 45,500 shares of the computer hardware maker’s stock worth $22,533,000 after buying an additional 15,200 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 0.4 %

Shares of NASDAQ NVDA opened at $124.04 on Friday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The stock has a market cap of $3.04 trillion, a price-to-earnings ratio of 72.54, a P/E/G ratio of 1.05 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $115.75 and its 200-day moving average is $107.76.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the firm posted $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. Equities research analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

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

NVIDIA Cuts Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the transaction, the executive vice president now directly owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The disclosure for this sale can be found here. Insiders sold 4,397,403 shares of company stock valued at $526,762,784 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of analyst reports. New Street Research upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Sanford C. Bernstein boosted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. HSBC raised their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

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.