NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by West Branch Capital LLC

West Branch Capital LLC reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 10.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 221,610 shares of the computer hardware maker’s stock after selling 25,924 shares during the period. NVIDIA accounts for approximately 8.0% of West Branch Capital LLC’s investment portfolio, making the stock its 2nd biggest holding. West Branch Capital LLC’s holdings in NVIDIA were worth $24,018,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC grew its holdings in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC grew its stake in shares of NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank acquired a new stake in shares of NVIDIA in the 4th quarter valued at about $43,515,504,000. Finally, Northern Trust Corp grew its stake in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president now directly owns 4,018,547 shares in the company, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director now owns 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,792,267 shares of company stock worth $544,823,117. Corporate insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating and issued a $170.00 target price (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. UBS Group restated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Bank of America raised their target price on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. William Blair restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Finally, Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.78.

NVIDIA Trading Up 1.8%

Shares of NVDA stock opened at $157.75 on Friday. The company has a 50 day moving average of $130.96 and a 200-day moving average of $126.97. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $158.71. The firm has a market cap of $3.85 trillion, a P/E ratio of 50.89, a PEG ratio of 1.40 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is 1.29%.

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.