NVIDIA Co. (NVDA) Stake Increased by Westpac Banking Corp

Westpac Banking Corp lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,746 shares of the computer hardware maker’s stock after acquiring an additional 8,961 shares during the quarter. Westpac Banking Corp’s holdings in NVIDIA were worth $22,129,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Broderick Brian C boosted its stake in shares of NVIDIA by 5.8% during the 2nd quarter. Broderick Brian C now owns 9,931 shares of the computer hardware maker’s stock worth $2,353,000 after acquiring an additional 546 shares in the last quarter. Arrow Financial Corp boosted its stake in NVIDIA by 8.3% during the 2nd quarter. Arrow Financial Corp now owns 11,652 shares of the computer hardware maker’s stock valued at $2,762,000 after purchasing an additional 890 shares during the period. Nvwm LLC boosted its stake in NVIDIA by 38.4% during the 2nd quarter. Nvwm LLC now owns 8,907 shares of the computer hardware maker’s stock valued at $2,110,000 after purchasing an additional 2,473 shares during the period. Boston Family Office LLC boosted its stake in NVIDIA by 141.7% during the 3rd quarter. Boston Family Office LLC now owns 2,175 shares of the computer hardware maker’s stock valued at $611,000 after purchasing an additional 1,275 shares during the period. Finally, Whittier Trust Co. boosted its stake in NVIDIA by 18.3% during the 3rd quarter. Whittier Trust Co. now owns 29,872 shares of the computer hardware maker’s stock valued at $8,394,000 after purchasing an additional 4,616 shares during the period. Institutional investors own 66.12% of the company’s stock.

In other news, EVP Ajay K. Puri sold 90,831 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total value of $26,281,949.85. Following the completion of the transaction, the executive vice president now directly owns 184,001 shares of the company’s stock, valued at approximately $53,240,689.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Byron sold 11,257 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $263.94, for a total value of $2,971,172.58. Following the completion of the transaction, the insider now directly owns 81,414 shares of the company’s stock, valued at $21,488,411.16. The disclosure for this sale can be found here. Insiders sold a total of 113,707 shares of company stock valued at $32,347,973 in the last quarter. Corporate insiders own 4.70% of the company’s stock.

Shares of NVDA stock opened at $145.00 on Friday. The company has a quick ratio of 6.20, a current ratio of 7.08 and a debt-to-equity ratio of 0.21. NVIDIA Co. has a 12 month low of $133.31 and a 12 month high of $292.76. The company has a market capitalization of $88.45 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.11 and a beta of 2.01.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 15th. The computer hardware maker reported $1.67 EPS for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.06). NVIDIA had a return on equity of 51.60% and a net margin of 37.78%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.24 billion. On average, equities research analysts forecast that NVIDIA Co. will post 6.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 30th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.44%. This is an increase from NVIDIA’s previous quarterly dividend of $0.15. NVIDIA’s dividend payout ratio (DPR) is currently 12.85%.

Several analysts recently weighed in on the company. Zacks Investment Research downgraded NVIDIA from a “hold” rating to a “strong sell” rating in a research note on Wednesday. BidaskClub downgraded NVIDIA from a “hold” rating to a “sell” rating in a research note on Wednesday. BNP Paribas downgraded NVIDIA from a “neutral” rating to an “underperform” rating in a research note on Tuesday, November 20th. Daiwa Capital Markets restated a “buy” rating on shares of NVIDIA in a research note on Monday, November 19th. Finally, Jefferies Financial Group decreased their target price on NVIDIA from $320.00 to $246.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $261.28.

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NVIDIA Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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