Balboa Wealth Partners Sells 4,118 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Balboa Wealth Partners reduced its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 288,938 shares of the computer hardware maker's stock after selling 4,118 shares during the quarter. NVIDIA makes up 7.6% of Balboa Wealth Partners' portfolio, making the stock its 2nd biggest position. Balboa Wealth Partners' holdings in NVIDIA were worth $31,315,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Berry Wealth Group LP lifted its position in NVIDIA by 5.7% in the 1st quarter. Berry Wealth Group LP now owns 11,421 shares of the computer hardware maker's stock valued at $1,238,000 after purchasing an additional 619 shares during the last quarter. C2C Wealth Management LLC grew its stake in shares of NVIDIA by 100.1% in the 1st quarter. C2C Wealth Management LLC now owns 6,218 shares of the computer hardware maker's stock worth $674,000 after purchasing an additional 3,110 shares during the last quarter. Retirement Guys Formula LLC grew its stake in shares of NVIDIA by 13.7% in the 1st quarter. Retirement Guys Formula LLC now owns 19,033 shares of the computer hardware maker's stock worth $2,063,000 after purchasing an additional 2,295 shares during the last quarter. Family Legacy Inc. grew its stake in shares of NVIDIA by 32.5% in the 1st quarter. Family Legacy Inc. now owns 12,089 shares of the computer hardware maker's stock worth $1,310,000 after purchasing an additional 2,963 shares during the last quarter. Finally, AIFG Consultants Ltd. grew its stake in shares of NVIDIA by 19.2% in the 1st quarter. AIFG Consultants Ltd. now owns 4,671 shares of the computer hardware maker's stock worth $506,000 after purchasing an additional 754 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVDA has been the topic of several recent research reports. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. William Blair reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. DA Davidson lifted their target price on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Finally, Rosenblatt Securities lifted their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $181.22.

NVIDIA Price Performance

NVDA stock traded down $0.77 during midday trading on Friday, reaching $172.23. The company had a trading volume of 42,748,310 shares, compared to its average volume of 263,628,470. The company has a market capitalization of $4.20 trillion, a price-to-earnings ratio of 55.58, a price-to-earnings-growth ratio of 1.51 and a beta of 2.13. The stock has a 50 day moving average price of $145.88 and a 200-day moving average price of $129.63. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. Equities research analysts expect 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 paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,814,800 shares of company stock worth $709,172,753 in the last ninety days. Insiders own 4.17% of the company's stock.

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.