Bay Rivers Group Lowers Stake in NVIDIA Co. (NASDAQ:NVDA)

Bay Rivers Group trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,070 shares of the computer hardware maker’s stock after selling 4,291 shares during the period. NVIDIA comprises 6.3% of Bay Rivers Group’s portfolio, making the stock its 2nd biggest holding. Bay Rivers Group’s holdings in NVIDIA were worth $12,760,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. grew its position in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the 2nd quarter worth $26,000. Quest Partners LLC bought a new position in NVIDIA in the 2nd quarter worth $27,000. Finally, Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the third quarter valued at $27,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $135.07 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock’s fifty day moving average is $138.51 and its 200 day moving average is $126.04. The firm has a market capitalization of $3.31 trillion, a PE ratio of 53.18, a PEG ratio of 2.58 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $45.83 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the business earned $0.38 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA announced that its board has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have commented on NVDA shares. HSBC upped their price target on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. UBS Group raised their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Truist Financial lifted their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Bank of America reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Raymond James lifted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity

In other news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,556,986 shares of company stock valued at $188,359,199. 4.23% of the stock is currently owned by insiders.

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.