NVIDIA Co. (NASDAQ:NVDA) Position Lessened by Balboa Wealth Partners

Balboa Wealth Partners lowered its holdings in NVIDIA Co. (NASDAQ:NVDA) by 9.8% in the third quarter, HoldingsChannel reports. The firm owned 318,314 shares of the computer hardware maker’s stock after selling 34,735 shares during the period. NVIDIA comprises about 9.6% of Balboa Wealth Partners’ portfolio, making the stock its largest holding. Balboa Wealth Partners’ holdings in NVIDIA were worth $38,656,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the 3rd quarter worth approximately $27,000. CGC Financial Services LLC acquired a new position in NVIDIA in the second quarter worth $26,000. Quest Partners LLC acquired a new position in NVIDIA in the second quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA during the second quarter valued at approximately $31,000. Finally, Gleason Group Inc. grew its holdings in shares of NVIDIA by 900.0% during the second quarter. Gleason Group Inc. now owns 280 shares of the computer hardware maker’s stock valued at $35,000 after purchasing an additional 252 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,628,156 shares of company stock worth $209,985,077 over the last ninety days. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $128.91 on Thursday. The stock’s fifty day simple moving average is $139.72 and its 200-day simple moving average is $127.08. The company has a market capitalization of $3.16 trillion, a price-to-earnings ratio of 50.73, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA announced that its board has initiated 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 repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 1.57%.

Analyst Ratings Changes

NVDA has been the subject of a number of analyst reports. Truist Financial boosted their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group boosted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Mizuho increased their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Craig Hallum boosted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.