Flagship Harbor Advisors LLC Invests $46.62 Million in NVIDIA Co. (NASDAQ:NVDA)

Flagship Harbor Advisors LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 383,879 shares of the computer hardware maker’s stock, valued at approximately $46,618,000. NVIDIA accounts for about 2.6% of Flagship Harbor Advisors LLC’s investment portfolio, making the stock its 4th biggest position.

A number of other hedge funds have also added to or reduced their stakes in the company. Mattern Wealth Management LLC increased its stake in NVIDIA by 6.6% in the third quarter. Mattern Wealth Management LLC now owns 33,265 shares of the computer hardware maker’s stock valued at $4,040,000 after acquiring an additional 2,045 shares during the last quarter. Rodgers & Associates LTD increased its stake in NVIDIA by 1.9% in the third quarter. Rodgers & Associates LTD now owns 11,555 shares of the computer hardware maker’s stock valued at $1,403,000 after acquiring an additional 220 shares during the last quarter. Sky Investment Group LLC increased its stake in NVIDIA by 0.4% in the third quarter. Sky Investment Group LLC now owns 289,558 shares of the computer hardware maker’s stock valued at $35,164,000 after acquiring an additional 1,093 shares during the last quarter. Traphagen Investment Advisors LLC increased its stake in NVIDIA by 2.8% in the third quarter. Traphagen Investment Advisors LLC now owns 31,577 shares of the computer hardware maker’s stock valued at $3,835,000 after acquiring an additional 860 shares during the last quarter. Finally, Home Federal Bank of Tennessee increased its stake in NVIDIA by 24.5% in the third quarter. Home Federal Bank of Tennessee now owns 3,050 shares of the computer hardware maker’s stock valued at $370,000 after acquiring an additional 600 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 2.2 %

NVDA opened at $138.25 on Friday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.39 trillion, a P/E ratio of 54.41, a price-to-earnings-growth ratio of 2.45 and a beta of 1.66. The company has a fifty day moving average price of $136.05 and a two-hundred day moving average price of $123.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue was up 93.6% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its board has approved a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. DA Davidson raised their target price on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Mizuho raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Benchmark raised their target price on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Truist Financial raised their target price on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $107.44, for a total transaction of $12,892,800.00. Following the completion of the sale, the chief executive officer now directly owns 76,135,836 shares of the company’s stock, valued at $8,180,034,219.84. The trade was a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,036,986 shares of company stock valued at $240,602,399. Corporate insiders own 4.23% of the company’s stock.

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.