NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Bay Rivers Group

Bay Rivers Group lowered its holdings in NVIDIA Co. (NASDAQ:NVDA) by 8.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,782 shares of the computer hardware maker’s stock after selling 9,031 shares during the quarter. NVIDIA accounts for about 5.4% of Bay Rivers Group’s holdings, making the stock its 2nd biggest position. Bay Rivers Group’s holdings in NVIDIA were worth $10,272,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Channel Wealth LLC lifted its holdings in NVIDIA by 5.7% in the first quarter. Channel Wealth LLC now owns 66,816 shares of the computer hardware maker’s stock valued at $7,242,000 after acquiring an additional 3,622 shares during the period. McGrath & Associates Inc. increased its position in shares of NVIDIA by 46.7% in the first quarter. McGrath & Associates Inc. now owns 5,491 shares of the computer hardware maker’s stock valued at $595,000 after buying an additional 1,747 shares in the last quarter. Warren Street Wealth Advisors LLC increased its position in shares of NVIDIA by 1.7% in the first quarter. Warren Street Wealth Advisors LLC now owns 38,601 shares of the computer hardware maker’s stock valued at $4,184,000 after buying an additional 646 shares in the last quarter. Matrix Trust Co increased its position in shares of NVIDIA by 74.2% in the first quarter. Matrix Trust Co now owns 2,014 shares of the computer hardware maker’s stock valued at $218,000 after buying an additional 858 shares in the last quarter. Finally, Clare Market Investments LLC increased its position in shares of NVIDIA by 7.8% in the first quarter. Clare Market Investments LLC now owns 77,439 shares of the computer hardware maker’s stock valued at $8,393,000 after buying an additional 5,593 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial raised their price target on NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Rosenblatt Securities raised their price target on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Bank of America lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Finally, UBS Group reiterated a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $172.24.

NVIDIA Stock Performance

Shares of NVDA opened at $141.97 on Monday. The business’s 50 day moving average is $122.77 and its two-hundred day moving average is $126.32. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $153.13. The firm has a market cap of $3.46 trillion, a price-to-earnings ratio of 55.87, a PEG ratio of 1.76 and a beta of 2.12. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This trade represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,560,845 shares of company stock worth $360,351,849. 4.17% of the stock is currently owned by 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.