Baystate Wealth Management LLC increases its equity holding in NVIDIA Co. (NASDAQ:NVDA)

Baystate Wealth Management LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 4.0% during the first quarter, HoldingsChannel reports. The company held 2,528 shares of the hardware maker after acquiring 97 additional shares during the period. Baystate Wealth Management LLC’s holdings in NVIDIA were worth $690,000 at the end of the last reporting period.

A number of other institutional investors and hedge funds have also increased or reduced their stakes in NVDA. Norges Bank bought a new stake in NVIDIA stock during Q4 worth approximately $6,279,217,000. BlackRock Inc. increased its position in NVIDIA shares by 2.1% during the 4th quarter. BlackRock Inc. now owns 177,839,722 shares of the hardware maker valued at $52,304,441,000 after purchasing an additional 3,591,440 shares during the period. TD Asset Management Inc. increased its position in NVIDIA shares by 56.5% during the fourth quarter. TD Asset Management Inc. now owns 5,846,984 shares of the hardware maker valued at $1,719,657,000 after purchasing an additional 2,111,668 shares during the period. Cibc World Markets Corp increased its position in NVIDIA shares by 732.5% during the 4th quarter. Cibc World Markets Corp now owns 1,989,809 shares of the hardware maker valued at $585,223,000 after buying an additional 1,750,783 shares during the period. Finally, Geode Capital Management LLC increased its position in NVIDIA shares by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 41,888,133 shares of the hardware maker valued at $12,287,340,000 after purchasing an additional 1,505,461 shares during the period. 55.19% of the shares are currently held by institutional investors and hedge funds.

Separately, director John Dabiri sold 2,200 shares of the company in a transaction dated Friday, May 27. The shares were sold at an average price of $185.59, for a total transaction of $408,298.00. As a result of the transaction, the administrator now directly owns 2,712 shares of the company, valued at $503,320.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Additionally, director Mark A. Stevens sold 113,850 shares of the company in a transaction dated Monday, June 13. The stock was sold at an average price of $158.03, for a total transaction of $17,991,715.50. Following the transaction, the administrator now owns 2,596,493 shares of the company, valued at $410,323,788.79. The disclosure of this sale can be found here. Insiders sold 139,694 shares of the company valued at $22,850,524 in the past ninety days. Company insiders hold 4.04% of the company’s shares.

NASDAQ:NVDA shares opened at $151.59 on Friday. The company has a 50-day simple moving average of $176.12 and a 200-day simple moving average of $227.00. NVIDIA Co. has a one-year low of $148.62 and a one-year high of $346.47. The company has a debt ratio of 0.42, a quick ratio of 4.75 and a current ratio of 5.32. The stock has a market capitalization of $378.98 billion, a price/earnings ratio of 40.64, a PEG ratio of 2.30 and a beta of 1.59.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its results on Wednesday, May 25. The hardware maker reported EPS of $1.36 for the quarter, beating consensus analyst estimates of $1.29 by $0.07. NVIDIA had a net margin of 32.02% and a return on equity of 43.81%. The company posted revenue of $8.29 billion in the quarter, versus $8.09 billion expected by analysts. In the same period a year earlier, the company had earned earnings per share of $0.78. The company’s revenues increased by 46.4% compared to the same quarter last year. As a group, research analysts expect NVIDIA Co. to post EPS of 4.54 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Thursday, June 9 will receive a dividend of $0.04. The ex-dividend date is Wednesday, June 8. This represents a dividend of $0.16 on an annualized basis and a dividend yield of 0.11%. NVIDIA’s payout ratio is 4.29%.

NVDA has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered its price target on NVIDIA shares from $255.00 to $190.00 in a Thursday, May 26 report. Credit Suisse Group lowered its price target on NVIDIA shares to $205.00 in a Thursday, May 26, report. Piper Sandler lowered her price target on NVIDIA stock from $350.00 to $250.00 and set an “overweight” rating for the company in a Wednesday, May 25 report. Susquehanna Bancshares lowered its price target on NVIDIA shares from $280.00 to $260.00 and set a “positive” rating for the company in a Thursday, May 26 report. Finally, Barclays lowered its price target on NVIDIA shares from $350.00 to $295.00 and set an “overweight” rating for the company in a Monday, April 25 report. Seven research analysts gave the stock a hold rating, twenty-seven gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $266.41.

NVIDIA Profile (Get an assessment)

NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. The Company’s 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 GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.

Further reading

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