Bay Rivers Group cut its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,070 shares of the computer hardware maker’s stock after selling 4,291 shares during the quarter. NVIDIA comprises about 6.3% of Bay Rivers Group’s holdings, making the stock its 2nd largest position. Bay Rivers Group’s holdings in NVIDIA were worth $12,760,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the second quarter worth $25,000. DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after acquiring an additional 190 shares during the last quarter. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the 3rd quarter valued at about $27,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at about $26,000. Finally, Quest Partners LLC purchased a new position in shares of NVIDIA during the second quarter worth about $27,000. 65.27% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC upped their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Susquehanna raised 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. The Goldman Sachs Group upped their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.15.
NVIDIA Stock Down 2.7 %
Shares of NVIDIA stock opened at $135.07 on Wednesday. The company has a 50-day moving average of $138.51 and a 200 day moving average of $126.04. NVIDIA Co. has a 1 year low of $45.83 and a 1 year high of $152.89. The firm has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.18, a PEG ratio of 2.58 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (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 analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
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 given 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 dividend payout ratio (DPR) is 1.57%.
NVIDIA announced that its board has approved a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Insider Buying and Selling at NVIDIA
In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,556,986 shares of company stock worth $188,359,199. 4.23% of the stock is 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.
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