Harris Associates L P Takes $486,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Harris Associates L P acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,005 shares of the computer hardware maker’s stock, valued at approximately $486,000.

A number of other institutional investors have also recently bought and sold shares of NVDA. Quest Partners LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc acquired a new position in NVIDIA in the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA in the second quarter valued at about $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA in the third quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Barclays increased their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Bank of America reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Citigroup increased their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Redburn Atlantic initiated coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.27.

NVIDIA Stock Down 2.0 %

Shares of NVDA opened at $133.57 on Friday. The firm’s 50-day simple moving average is $139.49 and its 200 day simple moving average is $128.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market cap of $3.27 trillion, a P/E ratio of 52.57, a price-to-earnings-growth ratio of 2.45 and a beta of 1.64. NVIDIA Co. has a 52 week low of $54.74 and a 52 week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its 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. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by company insiders.

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.