Colonial River Investments LLC Has $11.06 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Colonial River Investments LLC boosted its position in NVIDIA Corporation (NASDAQ:NVDA) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,026 shares of the computer hardware maker’s stock after buying an additional 12,330 shares during the quarter. NVIDIA makes up about 6.1% of Colonial River Investments LLC’s holdings, making the stock its 2nd biggest position. Colonial River Investments LLC’s holdings in NVIDIA were worth $11,058,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WealthBridge Capital Management LLC increased its position in NVIDIA by 1.5% during the 1st quarter. WealthBridge Capital Management LLC now owns 54,747 shares of the computer hardware maker’s stock worth $5,933,000 after buying an additional 804 shares during the period. Uniting Wealth Partners LLC lifted its stake in NVIDIA by 3.0% in the first quarter. Uniting Wealth Partners LLC now owns 53,225 shares of the computer hardware maker’s stock valued at $5,769,000 after buying an additional 1,545 shares during the period. Clarus Group Inc. raised its position in shares of NVIDIA by 0.5% during the first quarter. Clarus Group Inc. now owns 42,366 shares of the computer hardware maker’s stock worth $4,592,000 after purchasing an additional 225 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in NVIDIA by 0.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 63,783,100 shares of the computer hardware maker’s stock valued at $6,912,812,000 after buying an additional 167,461 shares during the last quarter. Finally, Barnes Pettey Financial Advisors LLC grew its stake in shares of NVIDIA by 8.7% during the 1st quarter. Barnes Pettey Financial Advisors LLC now owns 21,135 shares of the computer hardware maker’s stock worth $2,291,000 after acquiring an additional 1,700 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $171.38 on Tuesday. The stock’s 50 day simple moving average is $146.99 and its 200 day simple moving average is $129.81. The stock has a market cap of $4.18 trillion, a P/E ratio of 55.28, a P/E/G ratio of 1.52 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.25.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm posted $0.61 EPS. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NVDA. TD Cowen lifted their price target on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Barclays lifted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 17th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, DA Davidson raised their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $181.22.

Insider Buying and Selling

In other news, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the transaction, the director directly owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This represents a 2.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $172.52, for a total value of $12,939,000.00. Following the completion of the transaction, the chief executive officer owned 74,348,225 shares in the company, valued at $12,826,555,777. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,964,800 shares of company stock worth $734,906,003. Insiders own 4.17% of the company’s stock.

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.