Harvey Capital Management Inc. reduced its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 25.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,800 shares of the computer hardware maker’s stock after selling 13,412 shares during the period. NVIDIA accounts for about 2.4% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Harvey Capital Management Inc.’s holdings in NVIDIA were worth $5,670,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC boosted its position in shares of NVIDIA by 124.1% during the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock worth $28,000 after buying an additional 108 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $34,000. Financial Connections Group Inc. boosted its position in shares of NVIDIA by 605.7% during the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after buying an additional 212 shares during the period. Chelsea Counsel Co. acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $37,000. Finally, NewSquare Capital LLC acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $37,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Stock Up 0.1 %
NVIDIA stock opened at $426.92 on Friday. The firm has a fifty day moving average price of $321.84 and a two-hundred day moving average price of $245.03. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 222.36, a P/E/G ratio of 2.97 and a beta of 1.75. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $437.21.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 8th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Wednesday, June 7th. NVIDIA’s dividend payout ratio is currently 8.33%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on NVDA shares. Piper Sandler boosted their target price on NVIDIA from $300.00 to $440.00 in a report on Thursday, May 25th. Oppenheimer upped their price target on NVIDIA from $350.00 to $420.00 in a report on Thursday, May 25th. Morgan Stanley upped their price target on NVIDIA from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Friday. Jefferies Financial Group upped their price target on NVIDIA from $300.00 to $472.00 in a report on Thursday, May 25th. Finally, Wells Fargo & Company boosted their target price on shares of NVIDIA from $320.00 to $450.00 in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $382.43.
Insider Activity
In other news, CFO Colette Kress sold 6,124 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the completion of the transaction, the chief financial officer now owns 538,745 shares of the company’s stock, valued at $219,005,229.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Colette Kress sold 6,124 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the completion of the transaction, the chief financial officer now owns 538,745 shares of the company’s stock, valued at $219,005,229.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harvey C. Jones sold 119,795 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $403.17, for a total transaction of $48,297,750.15. Following the completion of the transaction, the director now directly owns 676,396 shares of the company’s stock, valued at approximately $272,702,575.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,386 shares of company stock valued at $97,248,000. Insiders own 3.99% of the company’s stock.
NVIDIA Company Profile
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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