Harbour Trust & Investment Management Co Cuts Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Harbour Trust & Investment Management Co lowered its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 883,923 shares of the computer hardware maker's stock after selling 50,925 shares during the period. NVIDIA accounts for about 11.6% of Harbour Trust & Investment Management Co's holdings, making the stock its biggest position. Harbour Trust & Investment Management Co's holdings in NVIDIA were worth $95,800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $38,000. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in NVIDIA during the first quarter valued at $51,000. Finally, Bruce G. Allen Investments LLC grew its holdings in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the period. Institutional investors own 65.27% of the company's stock.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 27,650 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the transaction, the chief financial officer owned 2,984,516 shares of the company's stock, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $169.54, for a total transaction of $12,715,500.00. Following the completion of the transaction, the chief executive officer directly owned 74,123,225 shares of the company's stock, valued at $12,566,851,566.50. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,114,800 shares of company stock worth $760,553,003 in the last three months. Corporate insiders own 4.17% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Jefferies Financial Group increased their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a report on Thursday, April 3rd. Mizuho set a $192.00 price objective on NVIDIA and gave the company an "outperform" rating in a report on Tuesday, July 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Finally, DA Davidson raised their price target on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $181.22.

NVIDIA Price Performance

Shares of NVDA opened at $173.50 on Friday. The firm has a market cap of $4.23 trillion, a PE ratio of 55.97, a P/E/G ratio of 1.53 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $150.95 and a two-hundred day simple moving average of $130.86. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.72.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company 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 quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. On average, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is 1.29%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.