Flagship Harbor Advisors LLC Makes New $46.62 Million Investment in NVIDIA Co. (NASDAQ:NVDA)

Flagship Harbor Advisors LLC acquired a new position in NVIDIA Co. (NASDAQ:NVDA) in the third quarter, Holdings Channel reports. The fund acquired 383,879 shares of the computer hardware maker’s stock, valued at approximately $46,618,000. NVIDIA accounts for approximately 2.6% of Flagship Harbor Advisors LLC’s holdings, making the stock its 4th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Mattern Wealth Management LLC grew its position in NVIDIA by 6.6% in the 3rd quarter. Mattern Wealth Management LLC now owns 33,265 shares of the computer hardware maker’s stock worth $4,040,000 after purchasing an additional 2,045 shares in the last quarter. Rodgers & Associates LTD grew its position in NVIDIA by 1.9% in the 3rd quarter. Rodgers & Associates LTD now owns 11,555 shares of the computer hardware maker’s stock worth $1,403,000 after purchasing an additional 220 shares in the last quarter. Sky Investment Group LLC grew its position in NVIDIA by 0.4% in the 3rd quarter. Sky Investment Group LLC now owns 289,558 shares of the computer hardware maker’s stock worth $35,164,000 after purchasing an additional 1,093 shares in the last quarter. Traphagen Investment Advisors LLC boosted its stake in NVIDIA by 2.8% in the third quarter. Traphagen Investment Advisors LLC now owns 31,577 shares of the computer hardware maker’s stock valued at $3,835,000 after acquiring an additional 860 shares during the last quarter. Finally, Home Federal Bank of Tennessee boosted its stake in NVIDIA by 24.5% in the third quarter. Home Federal Bank of Tennessee now owns 3,050 shares of the computer hardware maker’s stock valued at $370,000 after acquiring an additional 600 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. DA Davidson boosted their target price on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Benchmark boosted their target price on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Wedbush boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Bank of America reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the transaction, the chief executive officer now owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. The trade was a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,036,986 shares of company stock worth $240,602,399 in the last 90 days. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $138.25 on Friday. The firm’s fifty day moving average price is $136.05 and its 200-day moving average price is $123.67. 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 $3.39 trillion, a P/E ratio of 54.41, a price-to-earnings-growth ratio of 2.45 and a beta of 1.66. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. On average, equities research analysts expect that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given 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 is Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

NVIDIA declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.