NVIDIA Co. (NASDAQ:NVDA) is Balboa Wealth Partners’ 2nd Largest Position

Balboa Wealth Partners cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,056 shares of the computer hardware maker’s stock after selling 25,258 shares during the quarter. NVIDIA makes up approximately 9.0% of Balboa Wealth Partners’ portfolio, making the stock its 2nd largest holding. Balboa Wealth Partners’ holdings in NVIDIA were worth $39,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Street Derivatives LLC acquired a new position in shares of NVIDIA during the 3rd quarter valued at about $4,589,905,000. Proficio Capital Partners LLC boosted its stake in shares of NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after buying an additional 34,441,082 shares during the period. Amundi boosted its position in shares of NVIDIA by 12.9% during the 4th quarter. Amundi now owns 117,036,612 shares of the computer hardware maker’s stock worth $16,394,224,000 after acquiring an additional 13,406,054 shares in the last quarter. Geode Capital Management LLC raised its holdings in NVIDIA by 2.2% during the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after purchasing an additional 11,525,969 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in NVIDIA by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after acquiring an additional 6,526,200 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock valued at $17,133,207. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVDA. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Wednesday. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Piper Sandler lowered their target price on shares of NVIDIA from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday. DA Davidson dropped their price objective on NVIDIA from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Monday. Finally, Susquehanna restated a “positive” rating and set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.51.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $101.33 on Friday. The firm’s 50-day simple moving average is $117.19 and its 200 day simple moving average is $129.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.47 trillion, a P/E ratio of 39.88, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

About NVIDIA

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.