West Wealth Group LLC Trims Stake in NVIDIA Corporation $NVDA

West Wealth Group LLC reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,642 shares of the computer hardware maker’s stock after selling 122 shares during the period. NVIDIA makes up 1.0% of West Wealth Group LLC’s portfolio, making the stock its 19th biggest holding. West Wealth Group LLC’s holdings in NVIDIA were worth $3,265,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NVDA. Norges Bank purchased a new position in NVIDIA in the fourth quarter worth $43,515,504,000. GAMMA Investing LLC grew its position in NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp grew its position in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Assenagon Asset Management S.A. grew its position in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock worth $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in NVIDIA in the fourth quarter worth $2,987,733,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research note on Thursday, July 10th. They issued a “buy” rating and a $185.00 price target for the company. Barclays boosted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 17th. Piper Sandler set a $225.00 price target on shares of NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday. BNP Paribas raised shares of NVIDIA to a “hold” rating in a research note on Friday, August 1st. Finally, Citigroup boosted their price target on shares of NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.33.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,837,440 shares of company stock valued at $889,404,782 over the last three months. Insiders own 4.17% of the company’s stock.

NVIDIA Trading Down 0.9%

NASDAQ:NVDA opened at $180.45 on Monday. The stock has a market cap of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.59 and a beta of 2.14. The company’s 50 day moving average price is $163.96 and its 200-day moving average price is $135.52. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48. 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 (NASDAQ:NVDA) last issued its 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 during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the prior year, the business posted $0.61 EPS. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s dividend payout ratio (DPR) is presently 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.