West Branch Capital LLC Sells 5,776 Shares of NVIDIA Co. (NASDAQ:NVDA)

West Branch Capital LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,864 shares of the computer hardware maker’s stock after selling 5,776 shares during the quarter. NVIDIA accounts for 10.3% of West Branch Capital LLC’s portfolio, making the stock its 2nd biggest holding. West Branch Capital LLC’s holdings in NVIDIA were worth $29,736,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after purchasing an additional 8,828,050 shares in the last quarter. Legal & General Group Plc grew its stake in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after buying an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Westpark Capital increased their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Susquehanna increased their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Phillip Securities restated an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Morgan Stanley upped their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Benchmark lifted their target price on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Up 0.7 %

NVDA opened at $136.92 on Wednesday. The firm’s fifty day moving average is $134.82 and its two-hundred day moving average is $123.17. The firm has a market cap of $3.35 trillion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the business posted $0.38 EPS. The firm’s revenue was up 93.6% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 2.73 EPS for the current year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its board has approved a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Company 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.