NVIDIA Co. (NASDAQ:NVDA) Stake Trimmed by Balboa Wealth Partners

Balboa Wealth Partners lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,314 shares of the computer hardware maker’s stock after selling 34,735 shares during the quarter. NVIDIA accounts for about 9.6% of Balboa Wealth Partners’ portfolio, making the stock its largest position. Balboa Wealth Partners’ holdings in NVIDIA were worth $38,656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of NVDA. Lantz Financial LLC increased its position in shares of NVIDIA by 833.1% in the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after purchasing an additional 36,774 shares during the last quarter. Websterrogers Financial Advisors LLC grew its stake in shares of NVIDIA by 568.4% during the second quarter. Websterrogers Financial Advisors LLC now owns 1,818 shares of the computer hardware maker’s stock worth $225,000 after purchasing an additional 1,546 shares in the last quarter. Carolina Wealth Advisors LLC increased its holdings in NVIDIA by 829.3% in the second quarter. Carolina Wealth Advisors LLC now owns 920 shares of the computer hardware maker’s stock valued at $114,000 after buying an additional 821 shares during the last quarter. A. D. Beadell Investment Counsel Inc. acquired a new stake in NVIDIA in the second quarter valued at $259,000. Finally, Norway Savings Bank lifted its holdings in NVIDIA by 893.3% during the 2nd quarter. Norway Savings Bank now owns 53,210 shares of the computer hardware maker’s stock worth $6,574,000 after buying an additional 47,853 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,156 shares of company stock worth $209,985,077 in the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $128.91 on Thursday. The stock has a market cap of $3.16 trillion, a price-to-earnings ratio of 50.73, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The business has a fifty day moving average of $139.72 and a 200-day moving average of $127.08. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. 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 announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, 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 share repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid 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 is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NVDA. Robert W. Baird increased their price objective on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Bank of America reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Westpark Capital lifted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Four 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 stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus 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.