Westchester Capital Management Inc. Has $1.51 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Westchester Capital Management Inc. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 247.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,235 shares of the computer hardware maker's stock after acquiring an additional 8,000 shares during the period. Westchester Capital Management Inc.'s holdings in NVIDIA were worth $1,509,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVDA. DiNuzzo Private Wealth Inc. grew its holdings in shares of NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after buying an additional 71 shares during the last quarter. Smart Portfolios LLC boosted its holdings in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock worth $341,000 after acquiring an additional 75 shares during the period. Palisade Asset Management LLC grew its position in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after acquiring an additional 75 shares in the last quarter. Baker Boyer National Bank lifted its position in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after purchasing an additional 76 shares in the last quarter. Finally, Kwmg LLC boosted its stake in shares of NVIDIA by 0.6% in the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock valued at $1,755,000 after purchasing an additional 77 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Aarti S. Shah sold 20,000 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This represents a 27.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded down $3.16 during trading on Friday, hitting $101.33. The company had a trading volume of 290,593,259 shares, compared to its average volume of 312,556,411. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $195.95. The business's 50-day moving average is $117.19 and its 200 day moving average is $129.89. The company has a market cap of $2.47 trillion, a P/E ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. 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 - Get Free Report) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA's dividend payout ratio is 1.36%.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent analyst reports. Raymond James reiterated a "strong-buy" rating on shares of NVIDIA in a report on Wednesday. Truist Financial increased their target price on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Piper Sandler cut their price target on shares of NVIDIA from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Wednesday. Needham & Company LLC reissued a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Citigroup restated a "buy" rating on shares of NVIDIA in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and a consensus target price of $165.51.

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.