Harvest Fund Management Co. Ltd Purchases 203,201 Shares of NVIDIA Co. (NASDAQ:NVDA)

Harvest Fund Management Co. Ltd grew its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,227,710 shares of the computer hardware maker's stock after acquiring an additional 203,201 shares during the period. NVIDIA comprises approximately 7.6% of Harvest Fund Management Co. Ltd's investment portfolio, making the stock its 2nd biggest position. Harvest Fund Management Co. Ltd's holdings in NVIDIA were worth $164,894,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the 4th quarter valued at $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA during the fourth quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $46,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NASDAQ NVDA traded up $4.58 on Friday, reaching $111.01. The stock had a trading volume of 250,248,639 shares, compared to its average volume of 304,641,559. 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 stock has a market cap of $2.71 trillion, a P/E ratio of 43.69, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The business's 50-day moving average price is $113.21 and its 200 day moving average price is $128.95. NVIDIA Co. has a 12-month low of $81.25 and a 12-month high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. As a group, equities analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is presently 1.36%.

Insider Activity

In other news, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares of the company's stock, valued at $28,993,071.56. This represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,147 shares of company stock valued at $17,133,207. Company insiders own 4.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NVDA shares. Piper Sandler reaffirmed an "overweight" rating on shares of NVIDIA in a research note on Friday. Susquehanna reaffirmed a "positive" rating and issued a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Mizuho reduced their price target on NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Summit Insights lowered shares of NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Hsbc Global Res downgraded shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and a consensus target price of $164.96.

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.