Granite Harbor Advisors Inc. Sells 36 Shares of NVIDIA Co. (NASDAQ:NVDA)

Granite Harbor Advisors Inc. cut its stake in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,545 shares of the computer hardware maker’s stock after selling 36 shares during the period. NVIDIA comprises approximately 1.7% of Granite Harbor Advisors Inc.’s investment portfolio, making the stock its 17th largest holding. Granite Harbor Advisors Inc.’s holdings in NVIDIA were worth $2,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of NVDA. Norges Bank bought a new position in NVIDIA during the 4th quarter valued at $3,900,874,000. Moneta Group Investment Advisors LLC lifted its stake in NVIDIA by 160,446.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares in the last quarter. Morgan Stanley lifted its stake in NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after acquiring an additional 4,621,002 shares in the last quarter. Barclays PLC lifted its stake in NVIDIA by 55.7% during the 2nd quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock valued at $3,240,769,000 after acquiring an additional 2,740,850 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of NVIDIA by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after purchasing an additional 2,287,471 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. DA Davidson raised their target price on NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Benchmark reaffirmed a “buy” rating and set a $1,000.00 target price on shares of NVIDIA in a research report on Wednesday, March 20th. Argus raised their target price on NVIDIA from $850.00 to $950.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Tigress Financial raised their target price on NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, UBS Group raised their target price on NVIDIA from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $908.68.

Get Our Latest Research Report on NVDA

NVIDIA Stock Down 0.5 %

Shares of NASDAQ NVDA opened at $889.64 on Thursday. NVIDIA Co. has a 12 month low of $262.20 and a 12 month high of $974.00. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 74.51, a PEG ratio of 1.30 and a beta of 1.73. The business has a 50-day moving average of $790.68 and a 200-day moving average of $585.28.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. NVIDIA’s revenue was up 265.3% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 22.45 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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 was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 35,648 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $542.93, for a total transaction of $19,354,368.64. Following the completion of the transaction, the director now owns 1,189,083 shares of the company’s stock, valued at $645,588,833.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, EVP Debora Shoquist sold 5,676 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $500.00, for a total value of $2,838,000.00. Following the completion of the sale, the executive vice president now owns 48,360 shares of the company’s stock, valued at $24,180,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 35,648 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $542.93, for a total value of $19,354,368.64. Following the completion of the sale, the director now directly owns 1,189,083 shares of the company’s stock, valued at approximately $645,588,833.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,352 shares of company stock valued at $74,815,227. 3.99% of the stock is owned by corporate insiders.

NVIDIA Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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