Western Pacific Wealth Management LP Has $4.01 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Western Pacific Wealth Management LP reduced its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 7.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 37,036 shares of the computer hardware maker’s stock after selling 2,868 shares during the period. NVIDIA comprises approximately 3.6% of Western Pacific Wealth Management LP’s portfolio, making the stock its 8th biggest holding. Western Pacific Wealth Management LP’s holdings in NVIDIA were worth $4,014,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the 4th quarter valued at about $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the 4th quarter valued at approximately $50,000. LSV Asset Management purchased a new position in NVIDIA in the 4th quarter worth $54,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after acquiring an additional 327 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the completion of the transaction, the chief executive officer owned 75,323,225 shares of the company’s stock, valued at approximately $11,865,667,634.25. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVDA. Citigroup reissued a “buy” rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. HSBC cut 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. Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Monday, June 16th. Rosenblatt Securities raised their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Finally, TD Cowen lifted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. One 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.78.

NVIDIA Price Performance

NVDA stock opened at $157.25 on Thursday. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $158.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $3.84 trillion, a PE ratio of 50.73, a price-to-earnings-growth ratio of 1.36 and a beta of 2.13. The business has a 50 day simple moving average of $134.36 and a 200-day simple moving average of $127.45.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $43.09 billion. During the same period last year, the firm posted $0.61 EPS. The business’s quarterly revenue was up 69.2% on a year-over-year basis. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal 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 given a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 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.