Harfst & Associates Inc. Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Harfst & Associates Inc. lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,587 shares of the computer hardware maker’s stock after selling 2,910 shares during the period. NVIDIA accounts for about 1.7% of Harfst & Associates Inc.’s investment portfolio, making the stock its 9th biggest holding. Harfst & Associates Inc.’s holdings in NVIDIA were worth $7,358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its stake in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after acquiring an additional 13,135 shares during the last quarter. Milestone Resources Group Ltd boosted its holdings in NVIDIA by 34.5% in the 1st quarter. Milestone Resources Group Ltd now owns 438,719 shares of the computer hardware maker’s stock worth $396,409,000 after buying an additional 112,614 shares during the last quarter. ProShare Advisors LLC lifted its stake in NVIDIA by 19.4% in the 1st quarter. ProShare Advisors LLC now owns 1,588,324 shares of the computer hardware maker’s stock worth $1,435,146,000 after purchasing an additional 258,082 shares in the last quarter. Baron Wealth Management LLC raised its position in shares of NVIDIA by 7.1% during the 1st quarter. Baron Wealth Management LLC now owns 1,997 shares of the computer hardware maker’s stock valued at $1,804,000 after buying an additional 132 shares during the period. Finally, Neumann Capital Management LLC raised its position in shares of NVIDIA by 2.9% during the 1st quarter. Neumann Capital Management LLC now owns 21,620 shares of the computer hardware maker’s stock valued at $19,535,000 after buying an additional 610 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research reports. Redburn Atlantic initiated coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday. Wedbush increased their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday. Loop Capital restated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, Barclays upped their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday. Four research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

View Our Latest Stock Analysis on NVDA

NVIDIA Trading Down 3.2 %

Shares of NVIDIA stock opened at $141.95 on Monday. The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.48 trillion, a P/E ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The company has a 50-day simple moving average of $134.01 and a 200 day simple moving average of $122.51.

NVIDIA (NASDAQ:NVDAGet Free Report) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 EPS. Research analysts expect that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

About NVIDIA

(Free Report)

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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