WestEnd Advisors LLC Has $27.40 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 11th, 2023

WestEnd Advisors LLC cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 6.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,762 shares of the computer hardware maker’s stock after selling 4,827 shares during the period. WestEnd Advisors LLC’s holdings in NVIDIA were worth $27,396,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Von Berge Wealth Management Group LLC lifted its position in shares of NVIDIA by 2.6% in the second quarter. Von Berge Wealth Management Group LLC now owns 930 shares of the computer hardware maker’s stock valued at $393,000 after buying an additional 24 shares during the last quarter. David J Yvars Group lifted its position in shares of NVIDIA by 1.5% in the first quarter. David J Yvars Group now owns 11,708 shares of the computer hardware maker’s stock valued at $3,252,000 after buying an additional 168 shares during the last quarter. Telos Capital Management Inc. lifted its position in shares of NVIDIA by 48.1% in the first quarter. Telos Capital Management Inc. now owns 4,560 shares of the computer hardware maker’s stock valued at $1,267,000 after buying an additional 1,482 shares during the last quarter. Personal Capital Advisors Corp lifted its position in shares of NVIDIA by 29.9% in the fourth quarter. Personal Capital Advisors Corp now owns 622,700 shares of the computer hardware maker’s stock valued at $91,001,000 after buying an additional 143,483 shares during the last quarter. Finally, Alta Wealth Advisors LLC lifted its position in shares of NVIDIA by 14.9% in the first quarter. Alta Wealth Advisors LLC now owns 6,650 shares of the computer hardware maker’s stock valued at $1,847,000 after buying an additional 863 shares during the last quarter. 64.79% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 1.2 %

Shares of NVDA opened at $457.98 on Wednesday. The company has a market capitalization of $1.13 trillion, a PE ratio of 110.62, a PEG ratio of 3.55 and a beta of 1.76. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $502.66. The stock’s 50-day moving average price is $448.64 and its two-hundred day moving average price is $389.41. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31.

NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, topping the consensus estimate of $2.08 by $0.62. The firm had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The business’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. On average, analysts anticipate that NVIDIA Co. will post 9.54 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio is 3.86%.

Analyst Ratings Changes

NVDA has been the subject of a number of recent analyst reports. Mizuho raised their price objective on NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Susquehanna lifted their price target on NVIDIA from $575.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 24th. Truist Financial lifted their price target on NVIDIA from $545.00 to $668.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. JPMorgan Chase & Co. lifted their price target on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. Finally, Piper Sandler lifted their price target on NVIDIA from $500.00 to $620.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $558.95.

Get Our Latest Research Report on NVIDIA

Insider Activity

In other news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total value of $13,999,376.40. Following the transaction, the chief executive officer now directly owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the transaction, the director now directly owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total value of $13,999,376.40. Following the transaction, the chief executive officer now directly owns 7,800,125 shares in the company, valued at $3,678,148,943.75. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock valued at $67,606,089 in the last ninety days. 3.99% of the stock is owned by company insiders.

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.