NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. cut its position in NVIDIA Co. (NASDAQ:NVDA) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,903 shares of the computer hardware maker’s stock after selling 4,935 shares during the quarter. NVIDIA accounts for 1.3% of Harbor Capital Advisors Inc.’s holdings, making the stock its largest holding. Harbor Capital Advisors Inc.’s holdings in NVIDIA were worth $28,891,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Lantz Financial LLC grew its position in shares of NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after acquiring an additional 36,774 shares during the last quarter. CX Institutional grew its position in NVIDIA by 936.9% during the 2nd quarter. CX Institutional now owns 150,085 shares of the computer hardware maker’s stock worth $18,542,000 after purchasing an additional 135,610 shares during the last quarter. Cedar Mountain Advisors LLC increased its stake in NVIDIA by 865.8% in the second quarter. Cedar Mountain Advisors LLC now owns 4,182 shares of the computer hardware maker’s stock valued at $517,000 after purchasing an additional 3,749 shares during the period. Bourgeon Capital Management LLC raised its holdings in shares of NVIDIA by 1,018.4% in the second quarter. Bourgeon Capital Management LLC now owns 36,795 shares of the computer hardware maker’s stock valued at $4,546,000 after buying an additional 33,505 shares during the last quarter. Finally, WBH Advisory Inc. increased its holdings in shares of NVIDIA by 887.1% in the second quarter. WBH Advisory Inc. now owns 9,585 shares of the computer hardware maker’s stock valued at $1,184,000 after purchasing an additional 8,614 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,156 shares of company stock valued at $197,995,077 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $132.00 on Tuesday. 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 company’s 50-day moving average price is $139.84 and its 200 day moving average price is $126.92. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The firm has a market cap of $3.23 trillion, a price-to-earnings ratio of 51.95, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

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

NVIDIA announced that its board has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes 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 shares are undervalued.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Morgan Stanley upped their target price on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. UBS Group raised their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Loop Capital restated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Four equities research 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.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target 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.