Balance Wealth LLC Takes $464,000 Position in NVIDIA Corporation (NASDAQ:NVDA)

Balance Wealth LLC acquired a new position in NVIDIA Corporation (NASDAQ:NVDA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,279 shares of the computer hardware maker’s stock, valued at approximately $464,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tacita Capital Inc bought a new position in NVIDIA in the fourth quarter worth $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management bought a new position in shares of NVIDIA during the 4th quarter worth about $50,000. Bruce G. Allen Investments LLC boosted its position in shares of NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after acquiring an additional 327 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in shares of NVIDIA during the 4th quarter valued at about $54,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $170.70 on Wednesday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $172.40. The stock has a market capitalization of $4.17 trillion, a P/E ratio of 55.06, a P/E/G ratio of 1.45 and a beta of 2.13. The business has a 50-day moving average price of $143.67 and a two-hundred day moving average price of $129.10.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the firm earned $0.61 earnings per share. The company’s quarterly revenue was up 69.2% on a year-over-year basis. Equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Analysts Set New Price Targets

NVDA has been the subject of several recent research reports. Truist Financial increased their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Citigroup increased their target price on NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 7th. The Goldman Sachs Group initiated coverage on NVIDIA in a research report on Thursday, July 10th. They set a “buy” rating and a $185.00 target price for the company. UBS Group reiterated a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Finally, HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $177.92.

Insider Buying and Selling at NVIDIA

In other news, Director A Brooke Seawell sold 48,792 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the transaction, the director directly owned 1,729,478 shares in the company, valued at $283,565,212.88. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Monday, July 14th. The stock was sold at an average price of $164.36, for a total value of $12,327,000.00. Following the sale, the chief executive officer directly owned 74,648,225 shares of the company’s stock, valued at approximately $12,269,182,261. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,767,150 shares of company stock valued at $701,030,045 in the last quarter. Corporate insiders own 4.17% 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.