NVIDIA Co. (NASDAQ:NVDA) Holdings Lifted by Bay Rivers Group

Bay Rivers Group increased its position in NVIDIA Co. (NASDAQ:NVDA) by 5.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,678 shares of the computer hardware maker’s stock after buying an additional 651 shares during the quarter. NVIDIA accounts for approximately 5.8% of Bay Rivers Group’s holdings, making the stock its 2nd biggest holding. Bay Rivers Group’s holdings in NVIDIA were worth $10,552,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Brooklyn FI LLC raised its stake in NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares during the last quarter. M. Kraus & Co grew its holdings in NVIDIA by 2.0% in the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock valued at $594,000 after buying an additional 13 shares in the last quarter. Sterling Financial Group Inc. grew its holdings in NVIDIA by 0.9% in the 1st quarter. Sterling Financial Group Inc. now owns 1,452 shares of the computer hardware maker’s stock valued at $1,312,000 after buying an additional 13 shares in the last quarter. VanderPol Investments L.L.C. grew its holdings in NVIDIA by 3.1% in the 1st quarter. VanderPol Investments L.L.C. now owns 465 shares of the computer hardware maker’s stock valued at $420,000 after buying an additional 14 shares in the last quarter. Finally, WFA Asset Management Corp grew its holdings in NVIDIA by 10.1% in the 1st quarter. WFA Asset Management Corp now owns 153 shares of the computer hardware maker’s stock valued at $138,000 after buying an additional 14 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NVDA traded down $13.55 during trading on Tuesday, hitting $864.02. 36,070,525 shares of the stock were exchanged, compared to its average volume of 51,807,828. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 72.36, a PEG ratio of 1.26 and a beta of 1.73. NVIDIA Co. has a 1-year low of $272.40 and a 1-year high of $974.00. The stock has a fifty day moving average price of $860.82 and a two-hundred day moving average price of $643.52. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm’s revenue was up 265.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. As a group, sell-side analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is 1.34%.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock valued at $52,689,898 over the last quarter. Company insiders own 3.99% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several analyst reports. UBS Group upped their target price on NVIDIA from $1,100.00 to $1,150.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho upped their target price on NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Loop Capital initiated coverage on NVIDIA in a report on Friday, February 16th. They issued a “buy” rating and a $1,200.00 target price for the company. Argus increased their price target on NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Piper Sandler Companies increased their price target on NVIDIA to $850.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $941.55.

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.