Harvard Management Co. Inc. Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Harvard Management Co. Inc. raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,267.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 687,450 shares of the computer hardware maker’s stock after acquiring an additional 637,161 shares during the period. NVIDIA comprises approximately 5.1% of Harvard Management Co. Inc.’s investment portfolio, making the stock its 8th largest holding. Harvard Management Co. Inc.’s holdings in NVIDIA were worth $84,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of NVDA. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA during the 1st quarter worth $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of NVIDIA during the 1st quarter worth $27,000. HBC Financial Services PLLC bought a new stake in shares of NVIDIA during the 1st quarter worth $30,000. Norwood Financial Corp bought a new stake in shares of NVIDIA during the 1st quarter worth $45,000. Finally, Coston McIsaac & Partners raised its stake in shares of NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $117.24, for a total transaction of $14,068,800.00. Following the completion of the transaction, the chief executive officer now owns 78,054,995 shares of the company’s stock, valued at approximately $9,151,167,613.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total value of $14,068,800.00. Following the transaction, the chief executive officer now owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,996,270 shares of company stock valued at $347,729,127. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $138.00 on Friday. The firm has a market cap of $3.39 trillion, a PE ratio of 64.73, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The business has a 50 day moving average price of $121.88 and a 200-day moving average price of $112.35.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Piper Sandler restated an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Robert W. Baird upped their price target on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $138.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Westpark Capital upped their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

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.