Ballew Advisors Inc Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Ballew Advisors Inc cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,558 shares of the computer hardware maker’s stock after selling 217 shares during the quarter. Ballew Advisors Inc’s holdings in NVIDIA were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NVDA. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter worth about $27,000. Quest Partners LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the 2nd quarter worth approximately $31,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the 4th quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new stake in NVIDIA during the 3rd quarter valued at $36,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $129.84 on Friday. The firm has a market capitalization of $3.18 trillion, a price-to-earnings ratio of 51.10, a PEG ratio of 2.16 and a beta of 1.62. The stock has a fifty day moving average of $135.48 and a 200 day moving average of $129.35. NVIDIA Co. has a 52 week low of $66.25 and a 52 week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NVDA. Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Tuesday, January 7th. Barclays increased their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Stifel Nicolaus boosted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI increased their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $166.23.

Insider Activity

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’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 completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last quarter. 4.23% of the stock is owned by company insiders.

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.