Harbour Trust & Investment Management Co Lowers Holdings in NVIDIA Co. (NASDAQ:NVDA)

Harbour Trust & Investment Management Co lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 963,922 shares of the computer hardware maker’s stock after selling 68,258 shares during the period. NVIDIA makes up approximately 13.3% of Harbour Trust & Investment Management Co’s holdings, making the stock its biggest position. Harbour Trust & Investment Management Co’s holdings in NVIDIA were worth $117,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares during the period. JT Stratford LLC lifted its stake in shares of NVIDIA by 24.0% in the 1st quarter. JT Stratford LLC now owns 14,681 shares of the computer hardware maker’s stock worth $13,265,000 after purchasing an additional 2,838 shares during the period. Biltmore Family Office LLC lifted its stake in shares of NVIDIA by 3.2% in the 1st quarter. Biltmore Family Office LLC now owns 2,791 shares of the computer hardware maker’s stock worth $2,522,000 after purchasing an additional 87 shares during the period. K2 Principal Fund L.P. bought a new position in shares of NVIDIA in the 1st quarter worth approximately $361,000. Finally, Envoi LLC bought a new position in shares of NVIDIA in the 1st quarter worth approximately $801,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Craig Hallum increased their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Sanford C. Bernstein increased their target price on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. TD Cowen increased their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Morgan Stanley increased their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Evercore ISI increased their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Up 1.2 %

Shares of NVDA opened at $140.26 on Wednesday. The firm has a market capitalization of $3.43 trillion, a P/E ratio of 55.20, a P/E/G ratio of 2.51 and a beta of 1.63. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $136.89 and a 200-day moving average price of $124.75.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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. 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 period in the previous year, the firm earned $0.38 earnings per share. Equities research analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

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

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $107.44, for a total transaction of $12,892,800.00. Following the completion of the sale, the chief executive officer now directly owns 76,135,836 shares of the company’s stock, valued at approximately $8,180,034,219.84. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,916,986 shares of company stock valued at $227,311,199. 4.23% of the stock is currently owned by company 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.