Westside Investment Management Inc. Trims Holdings in NVIDIA Co. (NASDAQ:NVDA)

Westside Investment Management Inc. decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,810 shares of the computer hardware maker’s stock after selling 590 shares during the period. NVIDIA comprises approximately 0.9% of Westside Investment Management Inc.’s holdings, making the stock its 26th largest holding. Westside Investment Management Inc.’s holdings in NVIDIA were worth $4,166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC acquired a new stake in NVIDIA in the second quarter worth about $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the second quarter worth about $31,000. West Financial Advisors LLC purchased a new position in shares of NVIDIA in the third quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. raised its stake in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVDA. Barclays raised their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Truist Financial raised their price objective on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Morgan Stanley raised their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Loop Capital reiterated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Price Performance

NASDAQ:NVDA opened at $147.07 on Thursday. NVIDIA Co. has a 12-month low of $58.58 and a 12-month high of $153.13. The stock’s 50 day moving average price is $138.69 and its two-hundred day moving average price is $129.22. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 57.88, a P/E/G ratio of 2.48 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last three months. Insiders own 4.23% of the company’s stock.

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.