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HomeNewsWestern Wealth Management LLC increases its holdings in NVIDIA Co. shares

Western Wealth Management LLC increases its holdings in NVIDIA Co. shares

During the fourth quarter, Western Wealth Management LLC increased its stake in NVIDIA Co. by 4.2%, as reported in its recent SEC filing. The firm now holds 29,284 shares of the computer hardware maker’s stock, marking a gain of 1,170 shares for the quarter. NVIDIA constitutes 1.0% of Western Wealth Management LLC’s portfolio, ranking as its 17th largest position, valued at $14,502,000 by the end of the quarter.

Numerous other institutional investors and hedge funds also made adjustments to their positions in NVIDIA. For instance, Moody Lynn & Lieberson LLC raised its holdings in NVIDIA by 7.2% during the third quarter, now owning 89,053 shares valued at $38,737,000. Additionally, TrueMark Investments LLC initiated a new position in NVIDIA during the fourth quarter, valued at approximately $2,639,000. McLean Asset Management Corp increased its stake in NVIDIA by 11.7% during the same period, now holding 1,773 shares valued at $871,000. Similarly, Cornercap Investment Counsel Inc. lifted its stake in NVIDIA by 5.7%, now owning 3,900 shares valued at $1,931,000. Moreover, Shilanski & Associates Inc. increased its stake in NVIDIA by 15.9%, now holding 2,983 shares valued at $1,477,000. Notably, hedge funds and other institutional investors collectively own 65.27% of NVIDIA’s stock.

In its most recent quarterly earnings report on February 21st, NVIDIA reported earnings per share (EPS) of $5.16, surpassing analysts’ consensus estimate of $4.21 by $0.95. The company generated revenue of $22.10 billion during the quarter, exceeding the consensus estimate of $20.40 billion. NVIDIA achieved a net margin of 48.85% and a return on equity of 93.61%, with quarterly revenue surging by 265.3% year-over-year. Analysts anticipate NVIDIA Co. to post EPS of 22.55 for the current fiscal year.

Regarding dividends, NVIDIA recently disclosed a quarterly dividend of $0.04 per share, reflecting an annualized basis yield of 0.02%. The company’s payout ratio currently stands at 1.34%.

In terms of insider activity, Director Mark A. Stevens recently sold 10,000 shares of NVIDIA stock in transactions dated February 23rd and March 4th, totaling $7,975,700.00 and $10,242,480.00, respectively. Following these transactions, Stevens now holds 1,124,583 shares in the company, valued at approximately $896,933,663.31. Overall, insiders sold 61,278 shares of NVIDIA stock worth $52,689,898 in the last 90 days, with corporate insiders currently owning 3.99% of the company’s stock.

Several equity analysts have recently issued their views on NVDA shares, with a consensus rating of “Moderate Buy” and an average price target of $940.30, according to data from MarketBeat. NVIDIA Corporation provides graphics, compute, and networking solutions globally, offering a range of products for gaming, enterprise workstation graphics, cloud-based computing, automotive platforms, and metaverse applications.