Oriental Harbor Investment Fund Makes New $252.88 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Oriental Harbor Investment Fund bought a new position in NVIDIA Co. (NASDAQ:NVDA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,082,310 shares of the computer hardware maker’s stock, valued at approximately $252,876,000. NVIDIA makes up approximately 28.3% of Oriental Harbor Investment Fund’s investment portfolio, making the stock its largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ironwood Wealth Management LLC. lifted its stake in NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after acquiring an additional 5,695 shares during the period. Financial Guidance Group Inc. grew its holdings in NVIDIA by 900.0% during the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after buying an additional 3,240 shares in the last quarter. Tobam grew its holdings in NVIDIA by 811.4% during the 2nd quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock valued at $5,126,000 after buying an additional 36,937 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of NVIDIA by 808.0% in the second quarter. Forum Financial Management LP now owns 144,878 shares of the computer hardware maker’s stock valued at $17,898,000 after purchasing an additional 128,923 shares in the last quarter. Finally, Heritage Family Offices LLP bought a new stake in NVIDIA in the second quarter worth $257,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NVDA shares. Piper Sandler lifted their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. UBS Group upped their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Raymond James increased their price target on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Wells Fargo & Company upped their price objective on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Phillip Securities reiterated an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.63.

Insider Activity

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 0.1 %

Shares of NVDA opened at $147.22 on Friday. The company has a market capitalization of $3.61 trillion, a P/E ratio of 57.94, a PEG ratio of 2.54 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a one year low of $59.94 and a one year high of $153.13. The business’s 50 day simple moving average is $138.70 and its 200-day simple moving average is $129.34.

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 analysts’ consensus estimates 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 quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

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.