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

Harbour Trust & Investment Management Co purchased a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 112,574 shares of the computer hardware maker’s stock, valued at approximately $55,749,000. NVIDIA makes up about 7.9% of Harbour Trust & Investment Management Co’s investment portfolio, making the stock its biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. LFA Lugano Financial Advisors SA bought a new stake in NVIDIA during the fourth quarter worth approximately $28,000. Peoples Financial Services CORP. bought a new stake in NVIDIA during the third quarter worth approximately $30,000. Your Advocates Ltd. LLP bought a new stake in NVIDIA during the third quarter worth approximately $30,000. Quarry LP bought a new stake in NVIDIA during the first quarter worth approximately $34,000. Finally, Compass Wealth Management LLC bought a new position in shares of NVIDIA in the fourth quarter valued at $39,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. CICC Research assumed coverage on NVIDIA in a report on Wednesday, March 6th. They issued an “outperform” rating and a $870.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,100.00 price target on shares of NVIDIA in a report on Tuesday, February 20th. Piper Sandler upped their price target on NVIDIA from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Needham & Company LLC upped their price target on NVIDIA from $600.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, Piper Sandler Companies upped their price target on NVIDIA to $850.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $940.30.

Insiders Place Their Bets

In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock valued at $52,689,898 in the last quarter. Insiders own 3.99% of the company’s stock.

NVIDIA Trading Down 3.9 %

Shares of NASDAQ:NVDA opened at $840.35 on Thursday. The stock has a market capitalization of $2.10 trillion, a PE ratio of 70.38, a P/E/G ratio of 1.24 and a beta of 1.73. NVIDIA Co. has a 1 year low of $262.25 and a 1 year high of $974.00. The firm has a fifty day moving average price of $840.89 and a 200 day moving average price of $618.47. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

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

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio is 1.34%.

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.