Ballentine Capital Advisors Inc Invests $266,000 in NVIDIA Co. (NASDAQ:NVDA)

Ballentine Capital Advisors Inc acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,150 shares of the computer hardware maker’s stock, valued at approximately $266,000. NVIDIA makes up approximately 0.1% of Ballentine Capital Advisors Inc’s holdings, making the stock its 25th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. grew its position in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares in the last quarter. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter worth about $26,000. CGC Financial Services LLC acquired a new position in NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA in the first quarter valued at approximately $27,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 0.0 %

NASDAQ:NVDA opened at $134.80 on Friday. The stock has a fifty day moving average price of $118.54 and a two-hundred day moving average price of $110.74. The stock has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on NVDA shares. Wedbush reaffirmed an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Tigress Financial upped their price target on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Truist Financial upped their price target on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Sanford C. Bernstein upped their price target on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Mizuho upped their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.46.

Insider Activity

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $128.92, for a total value of $15,470,400.00. Following the completion of the transaction, the chief executive officer now owns 78,894,995 shares in the company, valued at $10,171,142,755.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the sale, the chief executive officer now owns 78,894,995 shares of the company’s stock, valued at $10,171,142,755.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,356,270 shares of company stock worth $391,787,127 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA 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.