Bayshore Asset Management LLC Has $537,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Bayshore Asset Management LLC decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 25.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,425 shares of the computer hardware maker’s stock after selling 1,525 shares during the period. Bayshore Asset Management LLC’s holdings in NVIDIA were worth $537,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Waterway Wealth Management LLC increased its holdings in NVIDIA by 1.9% during the 3rd quarter. Waterway Wealth Management LLC now owns 29,908 shares of the computer hardware maker’s stock worth $3,632,000 after purchasing an additional 567 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in shares of NVIDIA by 6.4% during the third quarter. Raleigh Capital Management Inc. now owns 32,936 shares of the computer hardware maker’s stock valued at $4,000,000 after buying an additional 1,967 shares during the last quarter. Horst & Graben Wealth Management LLC grew its holdings in NVIDIA by 1.5% during the third quarter. Horst & Graben Wealth Management LLC now owns 34,969 shares of the computer hardware maker’s stock worth $4,247,000 after buying an additional 502 shares in the last quarter. Integrity Wealth Solutions LLC raised its position in NVIDIA by 54.0% in the 3rd quarter. Integrity Wealth Solutions LLC now owns 33,015 shares of the computer hardware maker’s stock valued at $4,010,000 after buying an additional 11,583 shares during the last quarter. Finally, Community Financial Services Group LLC lifted its stake in NVIDIA by 20.4% during the 3rd quarter. Community Financial Services Group LLC now owns 136,971 shares of the computer hardware maker’s stock valued at $16,634,000 after acquiring an additional 23,172 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

NVIDIA stock opened at $135.34 on Friday. The stock has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.28, a PEG ratio of 2.46 and a beta of 1.66. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $135.61 and a 200 day simple moving average of $123.34. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89.

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

NVIDIA announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $121.27, for a total value of $20,021,677.00. Following the completion of the transaction, the director now owns 8,420,117 shares of the company’s stock, valued at $1,021,107,588.59. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,036,986 shares of company stock valued at $240,602,399. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent analyst reports. Loop Capital reiterated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. DA Davidson upped their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Robert W. Baird upped their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC increased their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four 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.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.