Bay Colony Advisory Group Inc d b a Bay Colony Advisors Increases Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 3.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,596 shares of the computer hardware maker’s stock after buying an additional 4,108 shares during the period. NVIDIA accounts for approximately 1.9% of Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings, making the stock its 9th biggest position. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in NVIDIA were worth $12,458,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA during the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA during the 4th quarter valued at $50,000. Bruce G. Allen Investments LLC boosted its stake in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after purchasing an additional 327 shares in the last quarter. Finally, LSV Asset Management bought a new position in NVIDIA in the 4th quarter worth about $54,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TD Cowen upped their price target 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. Truist Financial upped their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Mizuho upped their price target on shares of NVIDIA from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, June 16th. Finally, Susquehanna reiterated a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.19.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director A Brooke Seawell sold 51,740 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the completion of the sale, the director directly owned 1,576,709 shares of the company’s stock, valued at $243,790,745.58. This represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NASDAQ NVDA opened at $159.28 on Monday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $160.98. The firm has a market capitalization of $3.89 trillion, a P/E ratio of 51.38, a PEG ratio of 1.41 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $136.38 and a 200-day moving average price of $127.81.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the previous year, the company earned $0.61 EPS. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is 1.29%.

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.