Balentine LLC Has $2.57 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Balentine LLC decreased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,720 shares of the computer hardware maker’s stock after selling 742 shares during the period. Balentine LLC’s holdings in NVIDIA were worth $2,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NVDA. Copia Wealth Management bought a new stake in shares of NVIDIA during the 4th quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of NVIDIA during the 1st quarter valued at about $51,000. 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 purchasing an additional 327 shares in the last quarter. LSV Asset Management bought a new stake in shares of NVIDIA during the 4th quarter valued at about $54,000. Finally, Delos Wealth Advisors LLC boosted its position in shares of NVIDIA by 134.8% during the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock valued at $66,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 20,000 shares of NVIDIA stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $3,561,200.00. Following the completion of the sale, the chief financial officer owned 153,060 shares of the company’s stock, valued at $27,253,863.60. The trade was a 11.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $181.38, for a total value of $13,603,500.00. Following the completion of the transaction, the chief executive officer owned 72,998,225 shares in the company, valued at approximately $13,240,418,050.50. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,837,440 shares of company stock valued at $889,404,782 in the last three months. 4.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NVDA has been the subject of a number of research reports. Wedbush reissued an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Citigroup raised their price objective on NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Oppenheimer raised their price objective on NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Wells Fargo & Company raised their price objective on NVIDIA from $185.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 11th. Finally, DA Davidson raised their price objective on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.33.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $180.45 on Friday. The stock has a market cap of $4.40 trillion, a PE ratio of 58.21, a price-to-earnings-growth ratio of 1.60 and a beta of 2.14. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a fifty day moving average of $163.96 and a 200-day moving average of $135.36.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s dividend payout ratio (DPR) is currently 1.29%.

NVIDIA Company 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.