Harbor Investment Advisory LLC Acquires 2,372 Shares of NVIDIA Co. (NASDAQ:NVDA)

Harbor Investment Advisory LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 3.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 74,187 shares of the computer hardware maker’s stock after acquiring an additional 2,372 shares during the quarter. NVIDIA makes up approximately 0.7% of Harbor Investment Advisory LLC’s portfolio, making the stock its 24th biggest position. Harbor Investment Advisory LLC’s holdings in NVIDIA were worth $8,040,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Tacita Capital Inc acquired a new stake in NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $40,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the fourth quarter worth $50,000. Finally, LSV Asset Management purchased a new position in shares of NVIDIA in the fourth quarter worth $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVDA. DA Davidson raised their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. HSBC cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Thursday, April 3rd. KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $172.24.

Insider Activity

In other news, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,560,845 shares of company stock worth $360,351,849 over the last 90 days. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Down 2.1%

Shares of NASDAQ NVDA opened at $141.97 on Friday. The company’s 50-day simple moving average is $122.77 and its 200-day simple moving average is $126.44. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $153.13. The firm has a market cap of $3.46 trillion, a price-to-earnings ratio of 55.87, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. 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 announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the business earned $0.61 EPS. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

NVIDIA 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.