Ballast Advisors LLC Sells 2,307 Shares of NVIDIA Co. (NASDAQ:NVDA)

Ballast Advisors LLC lessened its position in NVIDIA Co. (NASDAQ:NVDA) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,423 shares of the computer hardware maker’s stock after selling 2,307 shares during the quarter. NVIDIA makes up about 1.3% of Ballast Advisors LLC’s portfolio, making the stock its 16th biggest position. Ballast Advisors LLC’s holdings in NVIDIA were worth $4,302,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NVDA. Hoertkorn Richard Charles lifted its position in NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares during the period. Total Wealth Planning LLC lifted its holdings in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after acquiring an additional 78 shares during the period. Boyd Watterson Asset Management LLC OH boosted its position in shares of NVIDIA by 0.3% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after acquiring an additional 80 shares in the last quarter. Pavion Blue Capital LLC increased its stake in NVIDIA by 0.4% in the third quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after acquiring an additional 80 shares during the last quarter. Finally, L. Roy Papp & Associates LLP raised its position in NVIDIA by 2.5% during the third quarter. L. Roy Papp & Associates LLP now owns 3,471 shares of the computer hardware maker’s stock valued at $422,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Redburn Atlantic started coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Raymond James raised their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Westpark Capital upped their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus raised their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $164.15.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares of the company’s stock, valued at approximately $1,014,077,958.17. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,556,986 shares of company stock worth $201,687,727 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 3.1 %

NVIDIA stock opened at $134.70 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.30 trillion, a PE ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63. The firm’s fifty day moving average is $139.63 and its 200 day moving average is $127.25. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its board has approved a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.