NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 288,938 shares of the computer hardware maker's stock after selling 4,118 shares during the quarter. NVIDIA accounts for about 7.6% of Balboa Wealth Partners' portfolio, making the stock its 2nd largest holding. Balboa Wealth Partners' holdings in NVIDIA were worth $31,315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Centerpoint Advisory Group grew its holdings in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after acquiring an additional 943 shares during the last quarter. GSB Wealth Management LLC increased its position in shares of NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC increased its position in shares of NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares during the period. Financial Perspectives Inc increased its position in shares of NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares during the period. Finally, Hickory Point Bank & Trust acquired a new position in shares of NVIDIA during the 4th quarter valued at $2,272,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity

In related news, Director A Brooke Seawell sold 48,792 shares of NVIDIA 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 directly owned 1,729,478 shares in the company, valued at $283,565,212.88. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $164.36, for a total value of $12,327,000.00. Following the completion of the sale, the chief executive officer owned 74,648,225 shares of the company's stock, valued at $12,269,182,261. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,767,150 shares of company stock valued at $701,030,045 over the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded up $1.88 during trading on Thursday, hitting $173.25. The company's stock had a trading volume of 107,853,793 shares, compared to its average volume of 264,791,572. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.12. The firm has a market cap of $4.23 trillion, a price-to-earnings ratio of 55.92, a P/E/G ratio of 1.51 and a beta of 2.13. The company has a 50-day moving average of $144.76 and a 200-day moving average of $129.39. 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 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). The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 earnings per share. On average, sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. TD Cowen upped their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Rosenblatt Securities upped their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Needham & Company LLC upped their target price on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock 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.