NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Balentine LLC

Balentine LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 136.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 51,550 shares of the computer hardware maker’s stock after acquiring an additional 29,720 shares during the quarter. NVIDIA accounts for 0.2% of Balentine LLC’s investment portfolio, making the stock its 22nd largest position. Balentine LLC’s holdings in NVIDIA were worth $6,260,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. CGC Financial Services LLC purchased a new position in shares of NVIDIA during the second quarter worth $26,000. Quest Partners LLC acquired a new position in NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA in the 2nd quarter valued at about $31,000. Finally, FPC Investment Advisory Inc. increased its stake in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after purchasing an additional 261 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Susquehanna raised their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Stifel Nicolaus upped their price objective on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Morgan Stanley lifted their target price on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Redburn Atlantic initiated coverage on NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

NVIDIA stock opened at $130.68 on Friday. The business has a 50 day simple moving average of $139.63 and a 200-day simple moving average of $127.11. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $3.20 trillion, a PE ratio of 51.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released 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 company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter last year, the business earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. Equities analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on 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 owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. The trade was a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,556,986 shares of company stock valued at $201,687,727. Corporate insiders own 4.23% of the company’s stock.

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.