Harbour Wealth Management Group Inc. Acquires New Position in NVIDIA Corporation $NVDA

Harbour Wealth Management Group Inc. bought a new position in NVIDIA Corporation (NASDAQ:NVDAFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,457 shares of the computer hardware maker’s stock, valued at approximately $458,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. Diversified Enterprises LLC boosted its stake in NVIDIA by 44.2% during the 4th quarter. Diversified Enterprises LLC now owns 127,604 shares of the computer hardware maker’s stock valued at $23,798,000 after purchasing an additional 39,129 shares during the last quarter. ASR Vermogensbeheer N.V. increased its holdings in shares of NVIDIA by 1.8% in the 4th quarter. ASR Vermogensbeheer N.V. now owns 3,169,377 shares of the computer hardware maker’s stock worth $591,086,000 after purchasing an additional 54,877 shares in the last quarter. PMG Family Office LLC purchased a new position in shares of NVIDIA in the third quarter worth $2,150,000. Weaver Capital Management LLC lifted its holdings in shares of NVIDIA by 5.5% during the fourth quarter. Weaver Capital Management LLC now owns 85,216 shares of the computer hardware maker’s stock valued at $15,893,000 after purchasing an additional 4,439 shares in the last quarter. Finally, Circle Wealth Management LLC lifted its holdings in shares of NVIDIA by 16.1% during the third quarter. Circle Wealth Management LLC now owns 107,787 shares of the computer hardware maker’s stock valued at $20,111,000 after purchasing an additional 14,936 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Trending Headlines about NVIDIA

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Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 500,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $219.83, for a total transaction of $109,915,000.00. Following the completion of the sale, the director directly owned 6,399,771 shares of the company’s stock, valued at approximately $1,406,861,658.93. This represents a 7.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen C. Neal sold 15,500 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $215.73, for a total transaction of $3,343,815.00. Following the completion of the transaction, the director owned 116,135 shares in the company, valued at $25,053,803.55. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,016,125 shares of company stock valued at $224,582,565. Insiders own 3.94% of the company’s stock.

NVIDIA Trading Up 3.0%

Shares of NASDAQ:NVDA opened at $210.69 on Friday. The stock has a market capitalization of $5.10 trillion, a price-to-earnings ratio of 32.26, a PEG ratio of 0.46 and a beta of 2.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.85 and a current ratio of 3.44. The stock’s 50-day simple moving average is $209.33 and its two-hundred day simple moving average is $192.25. NVIDIA Corporation has a 52-week low of $142.03 and a 52-week high of $236.54.

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

NVIDIA announced that its board has initiated a stock buyback plan on Wednesday, May 20th that authorizes the company to buyback $80.00 billion in shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

NVIDIA Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $330.00 price objective on shares of NVIDIA in a report on Thursday, May 21st. Citic Securities upped their target price on shares of NVIDIA from $242.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Barclays reaffirmed an “overweight” rating on shares of NVIDIA in a report on Thursday, May 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $325.00 price target on shares of NVIDIA in a research note on Thursday, May 21st. Finally, Royal Bank Of Canada set a $280.00 price objective on shares of NVIDIA in a report on Thursday, May 21st. Three equities research analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $305.67.

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NVIDIA 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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