2,457 Shares in NVIDIA Corporation $NVDA Acquired by Harbour Wealth Management Group Inc.

Harbour Wealth Management Group Inc. bought a new position in shares of NVIDIA Corporation (NASDAQ:NVDAFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,457 shares of the computer hardware maker’s stock, valued at approximately $458,000.

Several other large investors have also added to or reduced their stakes in NVDA. State Street Corp raised its holdings in NVIDIA by 1.2% during the fourth quarter. State Street Corp now owns 991,480,489 shares of the computer hardware maker’s stock valued at $184,911,111,000 after acquiring an additional 11,451,386 shares during the period. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 588,803,093 shares of the computer hardware maker’s stock worth $109,446,217,000 after acquiring an additional 3,383,441 shares during the period. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter worth about $62,244,133,000. Bank of America Corp DE grew its position in shares of NVIDIA by 1.5% during the fourth quarter. Bank of America Corp DE now owns 187,181,484 shares of the computer hardware maker’s stock worth $34,909,347,000 after purchasing an additional 2,849,678 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in NVIDIA by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 181,203,035 shares of the computer hardware maker’s stock valued at $33,808,862,000 after purchasing an additional 2,609,560 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $210.69 on Friday. NVIDIA Corporation has a 52 week low of $142.03 and a 52 week high of $236.54. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $209.33 and a two-hundred day simple moving average of $192.25. The firm has a market capitalization of $5.10 trillion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 0.46 and a beta of 2.22.

NVIDIA (NASDAQ:NVDAGet Free Report) last posted its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.11. The firm had revenue of $81.61 billion for the quarter, compared to the consensus estimate of $78.42 billion. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The business’s quarterly revenue was up 85.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 EPS. Analysts anticipate that NVIDIA Corporation will post 8.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has approved a stock repurchase program on Wednesday, May 20th that permits the company to buyback $80.00 billion in shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Thursday, June 4th will be given a $0.25 dividend. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, June 4th. NVIDIA’s dividend payout ratio (DPR) is 15.31%.

Insiders Place Their Bets

In other news, Director Stephen C. Neal sold 15,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $215.73, for a total value of $3,343,815.00. Following the completion of the sale, the director directly owned 116,135 shares of the company’s stock, valued at $25,053,803.55. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 625 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $214.00, for a total value of $133,750.00. Following the transaction, the director directly owned 14,163 shares in the company, valued at approximately $3,030,882. This represents a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,016,125 shares of company stock valued at $224,582,565 over the last ninety days. 3.94% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on NVDA. KeyCorp set a $310.00 price target on NVIDIA and gave the stock an “overweight” rating in a report on Thursday, May 21st. Evercore reaffirmed an “outperform” rating and set a $413.00 price objective (up from $352.00) on shares of NVIDIA in a report on Thursday, May 21st. Oppenheimer reiterated an “outperform” rating and set a $265.00 price objective on shares of NVIDIA in a research report on Thursday, February 26th. Craig Hallum boosted their target price on shares of NVIDIA from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Argus upped their target price on shares of NVIDIA from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $305.67.

Check Out Our Latest Stock Report on NVIDIA

NVIDIA News Roundup

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NVIDIA Company Profile

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

See Also

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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