Harrington Investments INC Increases Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Harrington Investments INC boosted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 78.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,045 shares of the computer hardware maker's stock after purchasing an additional 3,535 shares during the period. Harrington Investments INC's holdings in NVIDIA were worth $872,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Hickory Point Bank & Trust purchased a new stake in shares of NVIDIA during the fourth quarter worth about $2,272,000. BTC Capital Management Inc. boosted its holdings in NVIDIA by 2.3% in the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock valued at $35,785,000 after purchasing an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP grew its stake in NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after purchasing an additional 9,944 shares in the last quarter. Waddell & Associates LLC increased its holdings in NVIDIA by 1.2% during the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock worth $3,240,000 after purchasing an additional 297 shares during the last quarter. Finally, Strategy Asset Managers LLC increased its holdings in NVIDIA by 0.8% during the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock worth $7,024,000 after purchasing an additional 405 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 190,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.51, for a total transaction of $27,076,900.00. Following the completion of the transaction, the director now directly owns 8,855,848 shares in the company, valued at $1,262,046,898.48. This represents a 2.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,469,685 shares of company stock worth $349,669,962. 4.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVDA. Oppenheimer reissued an "outperform" rating and set a $175.00 price target on shares of NVIDIA in a research report on Monday. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Susquehanna reissued a "positive" rating and issued a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research report on Thursday, April 3rd. Finally, William Blair reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $173.05.

NVIDIA Stock Up 0.9%

NVDA opened at $145.48 on Friday. The stock's 50 day moving average price is $125.72 and its 200 day moving average price is $126.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock has a market cap of $3.55 trillion, a P/E ratio of 46.93, a P/E/G ratio of 1.28 and a beta of 2.12. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $153.13.

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

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's payout ratio is 1.29%.

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.

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.