NVIDIA Co. (NASDAQ:NVDA) is Westfield Capital Management Co. LP’s Largest Position

Westfield Capital Management Co. LP boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.8% during the 3rd quarter, Holdings Channel reports. The firm owned 7,577,768 shares of the computer hardware maker’s stock after acquiring an additional 480,816 shares during the period. NVIDIA makes up about 4.2% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its largest holding. Westfield Capital Management Co. LP’s holdings in NVIDIA were worth $920,244,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NVDA. Lantz Financial LLC raised its position in NVIDIA by 833.1% in the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after acquiring an additional 36,774 shares during the period. Ironwood Wealth Management LLC. raised its holdings in shares of NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after purchasing an additional 5,695 shares during the period. Proffitt & Goodson Inc. lifted its stake in NVIDIA by 893.4% in the second quarter. Proffitt & Goodson Inc. now owns 22,272 shares of the computer hardware maker’s stock valued at $2,751,000 after purchasing an additional 20,030 shares during the last quarter. Griffin Asset Management Inc. grew its holdings in NVIDIA by 947.1% during the second quarter. Griffin Asset Management Inc. now owns 101,780 shares of the computer hardware maker’s stock valued at $12,574,000 after purchasing an additional 92,060 shares during the period. Finally, Joule Financial LLC increased its position in NVIDIA by 1,150.6% in the second quarter. Joule Financial LLC now owns 3,189 shares of the computer hardware maker’s stock worth $394,000 after buying an additional 2,934 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $140.11 on Friday. The firm has a market cap of $3.43 trillion, a PE ratio of 55.14, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company’s fifty day simple moving average is $139.89 and its two-hundred day simple moving average is $128.54. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $51.69 and a 12-month high of $153.13.

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

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVDA. Truist Financial increased their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Citigroup lifted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Piper Sandler upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. The Goldman Sachs Group lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

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.