WESPAC Advisors LLC Has $527,000 Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

WESPAC Advisors LLC cut its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 62.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,865 shares of the computer hardware maker’s stock after selling 8,031 shares during the quarter. WESPAC Advisors LLC’s holdings in NVIDIA were worth $527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. Tacita Capital Inc acquired a new stake in NVIDIA during the 4th quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the 4th quarter valued at approximately $38,000. Copia Wealth Management bought a new position in shares of NVIDIA during the fourth quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA during the first quarter worth $51,000. Finally, Bruce G. Allen Investments LLC grew its stake in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after purchasing an additional 327 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Phillip Securities upgraded NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 14th. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Wedbush restated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, TD Cowen upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.75.

NVIDIA Stock Performance

Shares of NVDA opened at $179.42 on Thursday. The firm has a market capitalization of $4.38 trillion, a P/E ratio of 57.88, a P/E/G ratio of 1.57 and a beta of 2.14. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The stock has a 50 day moving average price of $158.02 and a two-hundred day moving average price of $133.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA) last announced 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 the consensus estimate of $43.09 billion. During the same quarter last year, the company posted $0.61 EPS. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. Equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s payout ratio is 1.29%.

Insider Activity

In related news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,537,440 shares of company stock valued at $835,035,782 in the last three months. 4.17% of the stock is owned by company insiders.

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.