NVIDIA Corporation (NASDAQ:NVDA) Shares Purchased by Balefire LLC

Balefire LLC grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 35.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 27,520 shares of the computer hardware maker's stock after acquiring an additional 7,129 shares during the quarter. NVIDIA comprises approximately 1.0% of Balefire LLC's holdings, making the stock its 24th largest holding. Balefire LLC's holdings in NVIDIA were worth $2,983,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Centerpoint Advisory Group lifted its position in NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after buying an additional 943 shares during the last quarter. GSB Wealth Management LLC increased its stake in NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after purchasing an additional 1,043 shares during the period. Variant Private Wealth LLC increased its stake in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after purchasing an additional 3,206 shares during the period. Financial Perspectives Inc increased its stake in NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after purchasing an additional 1,265 shares during the period. Finally, Hickory Point Bank & Trust purchased a new stake in NVIDIA in the fourth quarter worth $2,272,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Down 0.3%

NVDA stock traded down $0.59 during trading on Friday, reaching $172.41. 145,724,125 shares of the company traded hands, compared to its average volume of 263,966,224. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.25. The business has a 50 day simple moving average of $146.99 and a 200 day simple moving average of $129.86. The company has a market capitalization of $4.21 trillion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. 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 - Get Free Report) last issued 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 business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 EPS. On average, equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Benchmark reiterated a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. DA Davidson increased their target price on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Finally, TD Cowen increased their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and a consensus price target of $181.22.

Insiders Place Their Bets

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of the firm's stock in a transaction dated 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 completion of the sale, the director owned 1,729,478 shares of the company's stock, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 20,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $170.88, for a total value of $3,417,600.00. Following the completion of the sale, the chief financial officer directly owned 163,060 shares of the company's stock, valued at approximately $27,863,692.80. This represents a 10.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,964,800 shares of company stock valued at $734,906,003. 4.17% of the stock is currently owned by corporate insiders.

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.