Harbour Trust & Investment Management Co Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

Harbour Trust & Investment Management Co purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 112,574 shares of the computer hardware maker’s stock, valued at approximately $55,749,000. NVIDIA makes up approximately 7.9% of Harbour Trust & Investment Management Co’s investment portfolio, making the stock its biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Moody Lynn & Lieberson LLC boosted its holdings in shares of NVIDIA by 7.2% in the third quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker’s stock valued at $38,737,000 after acquiring an additional 5,998 shares during the period. TrueMark Investments LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $2,639,000. McLean Asset Management Corp boosted its holdings in shares of NVIDIA by 11.7% in the fourth quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock valued at $871,000 after acquiring an additional 186 shares during the period. Shilanski & Associates Inc. boosted its holdings in shares of NVIDIA by 15.9% in the fourth quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker’s stock valued at $1,477,000 after acquiring an additional 410 shares during the period. Finally, WealthPLAN Partners LLC boosted its holdings in shares of NVIDIA by 14.3% in the fourth quarter. WealthPLAN Partners LLC now owns 7,938 shares of the computer hardware maker’s stock valued at $3,931,000 after acquiring an additional 996 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $840.35 on Thursday. The business’s fifty day moving average price is $840.89 and its two-hundred day moving average price is $618.47. The stock has a market cap of $2.10 trillion, a PE ratio of 70.38, a price-to-earnings-growth ratio of 1.24 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. NVIDIA Co. has a one year low of $262.25 and a one year high of $974.00.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. NVIDIA’s quarterly revenue was up 265.3% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is 1.34%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. Piper Sandler Companies increased their price objective on NVIDIA to $850.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Loop Capital initiated coverage on NVIDIA in a report on Friday, February 16th. They set a “buy” rating and a $1,200.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,100.00 price target on shares of NVIDIA in a report on Tuesday, February 20th. Evercore ISI initiated coverage on NVIDIA in a report on Tuesday. They set an “outperform” rating and a $1,160.00 price target for the company. Finally, Jefferies Financial Group increased their price target on NVIDIA from $610.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $940.30.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock worth $52,689,898 over the last quarter. 3.99% of the stock is currently owned by insiders.

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.