NVIDIA Co. (NASDAQ:NVDA) Position Raised by Ballast Advisors LLC

Ballast Advisors LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 903.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,730 shares of the computer hardware maker’s stock after purchasing an additional 33,969 shares during the quarter. NVIDIA comprises 1.5% of Ballast Advisors LLC’s portfolio, making the stock its 14th largest holding. Ballast Advisors LLC’s holdings in NVIDIA were worth $4,661,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in NVIDIA during the first quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the 1st quarter valued at $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the 1st quarter worth $30,000. Norwood Financial Corp acquired a new position in shares of NVIDIA in the 1st quarter worth $45,000. Finally, Coston McIsaac & Partners grew its holdings in shares of NVIDIA by 231.3% in the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after acquiring an additional 37 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Colette Kress sold 100,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the completion of the sale, the chief financial officer now owns 5,188,862 shares in the company, valued at approximately $627,073,972.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The disclosure for this sale can be found here. Insiders sold 3,692,303 shares of company stock valued at $444,047,307 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.6 %

NVIDIA stock opened at $116.00 on Friday. The firm has a market cap of $2.85 trillion, a price-to-earnings ratio of 67.84, a P/E/G ratio of 1.06 and a beta of 1.67. The firm has a fifty day moving average price of $115.99 and a two-hundred day moving average price of $106.97. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, analysts forecast that NVIDIA Co. will post 2.64 earnings per share for the current year.

NVIDIA announced that its board has authorized a stock buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 2.34%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. StockNews.com lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. DZ Bank downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 target price on the stock. in a research report on Friday, May 24th. Westpark Capital upped their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, William Blair assumed coverage on shares of NVIDIA in a research note on Wednesday. They issued an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

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.