Bar Harbor Wealth Management Lowers Holdings in NVIDIA Co. (NASDAQ:NVDA)

Bar Harbor Wealth Management decreased its stake in NVIDIA Co. (NASDAQ:NVDA) by 12.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,290 shares of the computer hardware maker’s stock after selling 7,430 shares during the quarter. Bar Harbor Wealth Management’s holdings in NVIDIA were worth $6,229,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. boosted its stake in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA in the first quarter worth about $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA in the second quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter worth approximately $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of a number of recent analyst reports. Susquehanna increased their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Piper Sandler increased their price target on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. TD Cowen increased their price target on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird increased their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Monday, November 18th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Down 3.2 %

NASDAQ:NVDA opened at $141.95 on Friday. The firm has a market cap of $3.48 trillion, a PE ratio of 66.58, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The stock has a fifty day moving average price of $134.01 and a 200 day moving average price of $122.06. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. Sell-side analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,156,270 shares of company stock worth $254,784,327. Company insiders own 4.23% of the company’s stock.

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.