Bar Harbor Wealth Management Buys 3,600 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Bar Harbor Wealth Management increased its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 6.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,432 shares of the computer hardware maker's stock after acquiring an additional 3,600 shares during the quarter. Bar Harbor Wealth Management's holdings in NVIDIA were worth $6,658,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FMR LLC increased its stake in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC increased its stake in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank bought a new stake in NVIDIA during the 4th quarter valued at $43,515,504,000. Finally, Northern Trust Corp increased its stake in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

Insider Transactions at NVIDIA

In other news, Director A Brooke Seawell sold 55,282 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $144.71, for a total value of $7,999,858.22. Following the sale, the director now directly owns 1,944,718 shares of the company's stock, valued at approximately $281,420,141.78. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,792,267 shares of company stock valued at $544,823,117. 4.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. TD Cowen lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $175.78.

NVIDIA Price Performance

NASDAQ NVDA opened at $157.75 on Friday. The company has a market cap of $3.85 trillion, a PE ratio of 50.89, a price-to-earnings-growth ratio of 1.37 and a beta of 2.12. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $158.71. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm's 50-day simple moving average is $130.96 and its two-hundred day simple moving average is $127.05.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. Research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

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.

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