Ballast Advisors LLC Sells 2,307 Shares of NVIDIA Co. (NASDAQ:NVDA)

Ballast Advisors LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 35,423 shares of the computer hardware maker’s stock after selling 2,307 shares during the period. NVIDIA makes up 1.3% of Ballast Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Ballast Advisors LLC’s holdings in NVIDIA were worth $4,302,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NVDA. Foster & Motley Inc. boosted its stake in NVIDIA by 15.8% during the third quarter. Foster & Motley Inc. now owns 10,687 shares of the computer hardware maker’s stock worth $1,298,000 after buying an additional 1,462 shares in the last quarter. Harvest Portfolios Group Inc. lifted its holdings in shares of NVIDIA by 79.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 422,225 shares of the computer hardware maker’s stock worth $51,275,000 after acquiring an additional 186,929 shares during the period. Benchmark Financial Wealth Advisors LLC boosted its position in shares of NVIDIA by 3.4% during the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 68,798 shares of the computer hardware maker’s stock valued at $8,355,000 after acquiring an additional 2,236 shares in the last quarter. Callahan Advisors LLC increased its stake in NVIDIA by 14.6% in the third quarter. Callahan Advisors LLC now owns 106,354 shares of the computer hardware maker’s stock valued at $12,916,000 after acquiring an additional 13,514 shares during the period. Finally, Summit Rock Advisors LP raised its position in NVIDIA by 20.9% in the third quarter. Summit Rock Advisors LP now owns 277,257 shares of the computer hardware maker’s stock worth $33,670,000 after purchasing an additional 47,897 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Susquehanna upped their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Citigroup increased their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Barclays boosted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Stifel Nicolaus increased their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,556,986 shares of company stock worth $201,687,727. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $134.70 on Friday. The firm has a fifty day moving average of $139.63 and a two-hundred day moving average of $127.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. As a group, equities research analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

NVIDIA declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.