Westpac Banking Corp Decreases Stake in NVIDIA Corporation (NVDA)
Westpac Banking Corp lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 21.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 58,691 shares of the computer hardware maker’s stock after selling 16,422 shares during the quarter. Westpac Banking Corp’s holdings in NVIDIA were worth $11,357,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Welch Investments LLC purchased a new position in NVIDIA in the 3rd quarter worth approximately $104,000. Evercore Wealth Management LLC boosted its holdings in NVIDIA by 36.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after acquiring an additional 206 shares during the period. Country Trust Bank boosted its holdings in NVIDIA by 490.0% in the 4th quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock worth $114,000 after acquiring an additional 490 shares during the period. North Star Investment Management Corp. boosted its holdings in NVIDIA by 67.3% in the 4th quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock worth $123,000 after acquiring an additional 255 shares during the period. Finally, Edge Advisors LLC boosted its holdings in NVIDIA by 98.8% in the 3rd quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock worth $149,000 after acquiring an additional 415 shares during the period. Institutional investors and hedge funds own 63.40% of the company’s stock.
NVDA has been the subject of a number of analyst reports. B. Riley restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Thursday, September 21st. Sanford C. Bernstein restated an “outperform” rating on shares of NVIDIA in a report on Saturday, September 23rd. Craig Hallum restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Saturday, September 23rd. Vetr upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $186.34 price target for the company in a report on Monday, September 25th. Finally, Mizuho restated a “buy” rating on shares of NVIDIA in a report on Monday, September 25th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $192.45.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.39. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. NVIDIA had a return on equity of 42.71% and a net margin of 28.78%. The firm’s revenue was up 31.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. analysts anticipate that NVIDIA Corporation will post 4.19 earnings per share for the current year.
In related news, CFO Colette Kress sold 171 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $185.57, for a total transaction of $31,732.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawn E. Hudson sold 3,052 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $214.39, for a total value of $654,318.28. Following the transaction, the director now owns 28,816 shares of the company’s stock, valued at $6,177,862.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,858 shares of company stock valued at $4,227,384. 5.82% of the stock is owned by company insiders.
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Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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