Westfield Capital Management Co. LP Has $1.19 Billion Stock Position in NVIDIA Corporation $NVDA

Westfield Capital Management Co. LP grew its position in NVIDIA Corporation (NASDAQ:NVDA) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,545,345 shares of the computer hardware maker’s stock after purchasing an additional 208,691 shares during the quarter. NVIDIA comprises approximately 5.0% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its biggest position. Westfield Capital Management Co. LP’s holdings in NVIDIA were worth $1,192,089,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Morton Brown Family Wealth LLC lifted its holdings in shares of NVIDIA by 1.5% during the second quarter. Morton Brown Family Wealth LLC now owns 3,928 shares of the computer hardware maker’s stock worth $621,000 after buying an additional 58 shares in the last quarter. Roof Eidam Maycock Peralta LLC grew its stake in shares of NVIDIA by 0.3% in the second quarter. Roof Eidam Maycock Peralta LLC now owns 20,903 shares of the computer hardware maker’s stock valued at $3,302,000 after acquiring an additional 58 shares in the last quarter. Alpha Wealth Funds LLC increased its position in NVIDIA by 1.3% during the second quarter. Alpha Wealth Funds LLC now owns 4,634 shares of the computer hardware maker’s stock worth $732,000 after acquiring an additional 59 shares during the period. Copia Wealth Management raised its stake in NVIDIA by 14.7% in the 2nd quarter. Copia Wealth Management now owns 468 shares of the computer hardware maker’s stock worth $74,000 after purchasing an additional 60 shares in the last quarter. Finally, BKM Wealth Management LLC boosted its holdings in NVIDIA by 1.1% in the 2nd quarter. BKM Wealth Management LLC now owns 5,745 shares of the computer hardware maker’s stock valued at $908,000 after purchasing an additional 60 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 12,728 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $183.93, for a total transaction of $2,341,061.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 350,000 shares of NVIDIA stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $181.73, for a total value of $63,605,500.00. Following the completion of the transaction, the director directly owned 7,049,803 shares of the company’s stock, valued at approximately $1,281,160,699.19. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,149,931 shares of company stock valued at $569,165,455 over the last 90 days. 4.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVDA. Seaport Global Securities raised their target price on shares of NVIDIA from $100.00 to $140.00 and gave the stock a “sell” rating in a report on Monday, November 17th. Susquehanna raised their price objective on NVIDIA from $230.00 to $250.00 and gave the stock a “positive” rating in a research note on Thursday, November 20th. Daiwa Capital Markets lifted their price objective on NVIDIA from $165.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. increased their target price on NVIDIA from $215.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Finally, Citigroup boosted their price target on NVIDIA from $220.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Four investment analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $258.65.

NVIDIA Stock Down 0.3%

Shares of NVDA opened at $184.97 on Wednesday. The stock’s 50-day moving average price is $187.17 and its two-hundred day moving average price is $173.11. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $212.19. The company has a market capitalization of $4.49 trillion, a PE ratio of 45.90, a PEG ratio of 0.91 and a beta of 2.29. The company has a current ratio of 4.47, a quick ratio of 3.71 and a debt-to-equity ratio of 0.06.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share 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 company 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 earnings per share. The business’s quarterly revenue was up 62.5% on a year-over-year basis. On average, analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s dividend payout ratio is currently 0.99%.

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.