Harvest Fund Management Co. Ltd Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Harvest Fund Management Co. Ltd raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 21.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,024,509 shares of the computer hardware maker’s stock after buying an additional 183,834 shares during the period. NVIDIA comprises about 7.4% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its biggest position. Harvest Fund Management Co. Ltd’s holdings in NVIDIA were worth $124,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in NVDA. Quest Partners LLC bought a new position in NVIDIA in the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA in the 3rd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA in the 2nd quarter worth about $31,000. West Financial Advisors LLC bought a new stake in NVIDIA during the 3rd quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $135.91 on Friday. The business’s 50-day moving average price is $139.90 and its 200 day moving average price is $128.66. The firm has a market cap of $3.33 trillion, a P/E ratio of 53.49, a PEG ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52-week low of $53.56 and a 52-week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the company posted $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were 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 of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. William Blair assumed coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Stifel Nicolaus lifted their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. HSBC lifted their target price on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Rosenblatt Securities restated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research note on Wednesday. Finally, Truist Financial raised their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.63.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 in the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Company Profile

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.