Granite Harbor Advisors Inc. Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Granite Harbor Advisors Inc. trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,110 shares of the computer hardware maker’s stock after selling 308 shares during the period. NVIDIA accounts for approximately 3.6% of Granite Harbor Advisors Inc.’s holdings, making the stock its 7th largest position. Granite Harbor Advisors Inc.’s holdings in NVIDIA were worth $6,461,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA in the 2nd quarter valued at approximately $31,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the 4th quarter worth approximately $34,000. West Financial Advisors LLC acquired a new position in NVIDIA during the third quarter valued at approximately $36,000. Finally, Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction 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 of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,107,632 shares of company stock valued at $146,405,286 over the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $126.63 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.10 trillion, a price-to-earnings ratio of 49.83, a P/E/G ratio of 1.76 and a beta of 1.62. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $153.13. The stock has a 50-day simple moving average of $134.55 and a 200 day simple moving average of $131.89.

Analyst Ratings Changes

Several research firms recently issued reports on NVDA. Mizuho upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a report on Monday, January 27th. Citigroup boosted their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC upped their price target on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $168.21.

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.