NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Balentine LLC

Balentine LLC trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 3.0% in the first quarter, HoldingsChannel reports. 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 & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Condor Capital Management raised its stake in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after purchasing an additional 89 shares during the last quarter. High Note Wealth LLC grew its holdings in NVIDIA by 0.5% during the 1st quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker’s stock worth $1,937,000 after acquiring an additional 91 shares during the last quarter. Kelly Financial Services LLC grew its holdings in NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock worth $513,000 after acquiring an additional 94 shares during the last quarter. Mendel Capital Management LLC grew its holdings in NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock worth $1,287,000 after acquiring an additional 96 shares during the last quarter. Finally, Affiance Financial LLC grew its holdings in NVIDIA by 0.7% during the 1st quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker’s stock worth $1,479,000 after acquiring an additional 97 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVIDIA stock opened at $180.45 on Friday. The stock has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.60 and a beta of 2.14. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $184.48. The stock’s 50 day moving average price is $163.96 and its two-hundred day moving average price is $135.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NVDA shares. Phillip Securities raised shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 14th. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Raymond James Financial lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a report on Thursday, May 29th. UBS Group reissued a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Finally, TD Cowen lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given 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 has an average rating of “Moderate Buy” and an average target price of $186.33.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. 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 90 days. 4.17% of the stock is currently owned by company insiders.

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.