Balefire LLC Has $2.98 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Balefire LLC lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 35.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,520 shares of the computer hardware maker’s stock after buying an additional 7,129 shares during the period. NVIDIA comprises about 1.0% of Balefire LLC’s portfolio, making the stock its 24th biggest holding. Balefire LLC’s holdings in NVIDIA were worth $2,983,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NVDA. KPP Advisory Services LLC boosted its position in shares of NVIDIA by 68.7% during the 1st quarter. KPP Advisory Services LLC now owns 72,732 shares of the computer hardware maker’s stock valued at $7,883,000 after purchasing an additional 29,620 shares in the last quarter. Madrona Financial Services LLC boosted its holdings in NVIDIA by 12.9% in the first quarter. Madrona Financial Services LLC now owns 15,109 shares of the computer hardware maker’s stock worth $1,638,000 after acquiring an additional 1,723 shares in the last quarter. Sabal Trust CO boosted its holdings in NVIDIA by 7.6% in the first quarter. Sabal Trust CO now owns 51,885 shares of the computer hardware maker’s stock worth $5,623,000 after acquiring an additional 3,681 shares in the last quarter. Western Wealth Management LLC boosted its holdings in NVIDIA by 0.6% in the first quarter. Western Wealth Management LLC now owns 265,068 shares of the computer hardware maker’s stock worth $28,728,000 after acquiring an additional 1,450 shares in the last quarter. Finally, Nvest Financial LLC lifted its holdings in shares of NVIDIA by 11.5% in the first quarter. Nvest Financial LLC now owns 26,933 shares of the computer hardware maker’s stock valued at $2,919,000 after purchasing an additional 2,777 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 1.0%

NASDAQ:NVDA opened at $173.00 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $4.22 trillion, a price-to-earnings ratio of 55.81, a price-to-earnings-growth ratio of 1.51 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.16. The business has a fifty day moving average price of $145.88 and a 200-day moving average price of $129.63.

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

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,814,800 shares of company stock worth $709,172,753. 4.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NVDA shares. Bank of America raised their target price on NVIDIA from $180.00 to $220.00 in a report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Arete Research raised NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Mizuho set a $192.00 target price on NVIDIA and gave the company an “outperform” rating in a research note on Tuesday. Finally, Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $181.22.

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.