NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC lessened its position in NVIDIA Co. (NASDAQ:NVDA) by 16.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,123 shares of the computer hardware maker’s stock after selling 18,197 shares during the period. NVIDIA comprises 0.9% of Clear Harbor Asset Management LLC’s portfolio, making the stock its 24th largest holding. Clear Harbor Asset Management LLC’s holdings in NVIDIA were worth $11,430,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hamilton Wealth LLC boosted its holdings in shares of NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after buying an additional 9 shares during the period. Clean Yield Group lifted its holdings in NVIDIA by 0.8% in the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after acquiring an additional 15 shares during the last quarter. Aspect Partners LLC boosted its stake in NVIDIA by 5.6% in the first quarter. Aspect Partners LLC now owns 320 shares of the computer hardware maker’s stock valued at $289,000 after acquiring an additional 17 shares during the period. Cedar Point Capital Partners LLC grew its holdings in shares of NVIDIA by 6.0% during the first quarter. Cedar Point Capital Partners LLC now owns 492 shares of the computer hardware maker’s stock valued at $445,000 after purchasing an additional 28 shares during the last quarter. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $111.83, for a total value of $13,419,600.00. Following the transaction, the chief executive officer now owns 75,655,836 shares in the company, valued at approximately $8,460,592,139.88. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,796,986 shares of company stock valued at $214,418,399. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Down 1.8 %

NVIDIA stock opened at $142.44 on Friday. NVIDIA Co. has a twelve month low of $45.60 and a twelve month high of $152.89. 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 $3.49 trillion, a PE ratio of 56.08, a P/E/G ratio of 2.54 and a beta of 1.63. The firm’s 50 day moving average price is $137.74 and its two-hundred day moving average price is $125.04.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the company earned $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA declared that its board has initiated a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NVDA. Barclays upped their price objective on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Citigroup lifted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Benchmark increased their price objective on NVIDIA from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Company 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.