Westchester Capital Management Inc. Acquires 8,000 Shares of NVIDIA Co. (NASDAQ:NVDA)

Westchester Capital Management Inc. lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 247.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,235 shares of the computer hardware maker’s stock after buying an additional 8,000 shares during the period. Westchester Capital Management Inc.’s holdings in NVIDIA were worth $1,509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truvestments Capital LLC raised its position in NVIDIA by 1.1% during the fourth quarter. Truvestments Capital LLC now owns 174,511 shares of the computer hardware maker’s stock worth $23,435,000 after acquiring an additional 1,924 shares in the last quarter. Austin Wealth Management LLC grew its holdings in NVIDIA by 13.1% during the fourth quarter. Austin Wealth Management LLC now owns 15,403 shares of the computer hardware maker’s stock worth $2,121,000 after purchasing an additional 1,789 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new stake in NVIDIA in the fourth quarter valued at approximately $6,862,000. Hopwood Financial Services Inc. bought a new position in shares of NVIDIA during the 4th quarter worth approximately $140,000. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $1,176,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock valued at $17,133,207 over the last 90 days. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 6.9 %

Shares of NVDA stock opened at $104.49 on Thursday. The stock has a 50-day moving average of $117.83 and a 200-day moving average of $130.03. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.55 trillion, a price-to-earnings ratio of 41.12, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $195.95.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Analyst Ratings Changes

A number of research firms have commented on NVDA. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. DA Davidson lowered their price target on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday. Raymond James reaffirmed a “strong-buy” rating on shares of NVIDIA in a research report on Wednesday. TD Cowen reduced their price target on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Susquehanna reissued a “positive” rating and set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.64.

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.