Westwood Holdings Group Inc. Sells 10,522 Shares of NVIDIA Corporation $NVDA

Westwood Holdings Group Inc. decreased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 365,136 shares of the computer hardware maker’s stock after selling 10,522 shares during the period. Westwood Holdings Group Inc.’s holdings in NVIDIA were worth $57,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kingstone Capital Partners Texas LLC increased its holdings in shares of NVIDIA by 267,959.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock valued at $64,976,521,000 after acquiring an additional 382,231,120 shares during the last quarter. Norges Bank bought a new stake in NVIDIA during the second quarter worth approximately $51,386,863,000. Nuveen LLC bought a new stake in NVIDIA during the first quarter worth approximately $15,089,414,000. Goldman Sachs Group Inc. grew its holdings in NVIDIA by 123.5% during the first quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock valued at $20,374,921,000 after purchasing an additional 103,889,872 shares during the last quarter. Finally, Laurel Wealth Advisors LLC grew its holdings in NVIDIA by 15,496.1% during the second quarter. Laurel Wealth Advisors LLC now owns 21,865,525 shares of the computer hardware maker’s stock valued at $3,454,534,000 after purchasing an additional 21,725,326 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVDA. Barclays upped their price objective on shares of NVIDIA from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Craig Hallum boosted their target price on shares of NVIDIA from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. KeyCorp raised their price target on NVIDIA from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of NVIDIA in a research note on Monday, December 8th. Finally, Robert W. Baird set a $275.00 price objective on NVIDIA and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Four analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $258.65.

NVIDIA Stock Down 3.3%

NASDAQ NVDA opened at $175.02 on Friday. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $212.19. The stock has a market cap of $4.25 trillion, a PE ratio of 43.43, a PEG ratio of 0.86 and a beta of 2.29. The firm has a 50-day simple moving average of $186.69 and a 200 day simple moving average of $173.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, beating the consensus estimate of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The firm had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 62.5% on a year-over-year basis. On average, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s dividend payout ratio (DPR) is 0.99%.

Insider Activity

In other NVIDIA news, Director A Brooke Seawell sold 12,728 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $183.93, for a total value of $2,341,061.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Debora Shoquist sold 69,840 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $177.85, for a total transaction of $12,421,044.00. Following the completion of the transaction, the executive vice president owned 1,424,603 shares of the company’s stock, valued at approximately $253,365,643.55. This represents a 4.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,829,474 shares of company stock valued at $512,805,367. 4.17% of the stock is owned by insiders.

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.