Western Financial Corp CA Sells 4,692 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Western Financial Corp CA trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA) by 22.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,049 shares of the computer hardware maker’s stock after selling 4,692 shares during the period. NVIDIA comprises about 1.0% of Western Financial Corp CA’s investment portfolio, making the stock its 25th biggest position. Western Financial Corp CA’s holdings in NVIDIA were worth $1,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the business. Centerpoint Advisory Group raised its stake in shares of NVIDIA by 2.5% during the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock worth $4,270,000 after buying an additional 943 shares during the last quarter. GSB Wealth Management LLC boosted its holdings in NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock worth $3,534,000 after purchasing an additional 1,043 shares during the last quarter. Variant Private Wealth LLC boosted its holdings in NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after purchasing an additional 3,206 shares during the last quarter. Financial Perspectives Inc boosted its holdings in NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock worth $4,981,000 after purchasing an additional 1,265 shares during the last quarter. Finally, Hickory Point Bank & Trust acquired a new position in NVIDIA during the fourth quarter worth $2,272,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Colette Kress sold 27,650 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $164.36, for a total value of $12,327,000.00. Following the sale, the chief executive officer owned 74,648,225 shares in the company, valued at approximately $12,269,182,261. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,814,800 shares of company stock worth $709,172,753. Company insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Citigroup raised their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, July 7th. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research report on Thursday, April 3rd. Finally, Needham & Company LLC boosted their price target on shares of NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.22.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $173.00 on Friday. The company’s fifty day moving average is $145.88 and its two-hundred day moving average is $129.63. 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 $174.16. The company has a market cap of $4.22 trillion, a P/E ratio of 55.81, a price-to-earnings-growth ratio of 1.51 and a beta of 2.13.

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

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

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.