Balentine LLC trimmed its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 52.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,462 shares of the computer hardware maker's stock after selling 27,088 shares during the quarter. NVIDIA accounts for approximately 0.1% of Balentine LLC's holdings, making the stock its 25th biggest holding. Balentine LLC's holdings in NVIDIA were worth $3,285,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Palisade Asset Management LLC increased its stake in shares of NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after buying an additional 75 shares during the period. SMART Wealth LLC increased its position in NVIDIA by 289.5% during the 4th quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker's stock valued at $9,711,000 after purchasing an additional 53,747 shares during the period. Blue Square Asset Management LLC increased its position in NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker's stock valued at $5,840,000 after purchasing an additional 10,136 shares during the period. Narwhal Capital Management increased its position in NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker's stock valued at $66,267,000 after purchasing an additional 26,373 shares during the period. Finally, Tybourne Capital Management HK Ltd. increased its position in NVIDIA by 46.7% during the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker's stock valued at $2,043,000 after purchasing an additional 5,360 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have issued reports on NVDA shares. Phillip Securities reissued an "accumulate" rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Evercore ISI boosted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a "hold" rating in a research report on Thursday, November 21st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $220.00 target price on shares of NVIDIA in a research report on Monday, February 24th. Finally, Mizuho reduced their target price on shares of NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a research report on Friday. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $171.51.
Check Out Our Latest Stock Report on NVDA
Insider Transactions at NVIDIA
In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company's stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,039,125 shares of company stock worth $137,062,338 in the last quarter. Company insiders own 4.23% of the company's stock.
NVIDIA Price Performance
Shares of NASDAQ:NVDA opened at $121.67 on Friday. The firm's 50 day moving average price is $129.26 and its 200-day moving average price is $131.17. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.97 trillion, a PE ratio of 47.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. Equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.
NVIDIA Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.
About NVIDIA
(
Free Report)
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.
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