Private Harbour Investment Management & Counsel LLC Sells 7,458 Shares of NVIDIA Co. (NASDAQ:NVDA)

Private Harbour Investment Management & Counsel LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,133 shares of the computer hardware maker’s stock after selling 7,458 shares during the period. NVIDIA accounts for approximately 8.8% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 2nd biggest position. Private Harbour Investment Management & Counsel LLC’s holdings in NVIDIA were worth $8,396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new stake in NVIDIA in the first quarter valued at approximately $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the second quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the first quarter worth approximately $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Up 0.6 %

NVIDIA stock opened at $146.71 on Friday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $152.89. The firm has a market capitalization of $3.60 trillion, a price-to-earnings ratio of 68.81, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a 50 day simple moving average of $133.55 and a 200 day simple moving average of $121.72.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, analysts predict that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. This represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NVDA. UBS Group upped their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Westpark Capital raised their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Evercore ISI raised their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday. Loop Capital reiterated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday. Finally, Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five investment 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 company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $160.82.

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.