NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. raised its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 79.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 422,225 shares of the computer hardware maker's stock after purchasing an additional 186,929 shares during the quarter. NVIDIA accounts for approximately 1.7% of Harvest Portfolios Group Inc.'s holdings, making the stock its 23rd biggest holding. Harvest Portfolios Group Inc.'s holdings in NVIDIA were worth $51,275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA during the third quarter worth approximately $27,000. CGC Financial Services LLC purchased a new position in NVIDIA during the 2nd quarter worth $26,000. Quest Partners LLC bought a new stake in NVIDIA during the 2nd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA during the 2nd quarter worth $31,000. Finally, FPC Investment Advisory Inc. grew its position in shares of NVIDIA by 900.0% during the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker's stock worth $34,000 after buying an additional 261 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVDA traded up $4.02 during trading hours on Friday, hitting $134.70. 304,377,688 shares of the stock were exchanged, compared to its average volume of 382,932,125. The stock's 50-day moving average price is $139.63 and its two-hundred day moving average price is $127.32. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. 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 company has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company's revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be 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 is Thursday, December 5th. NVIDIA's dividend payout ratio (DPR) is 1.57%.

NVIDIA declared that its board has authorized a share repurchase 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 stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

NVDA has been the subject of a number of research reports. Melius Research upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Citigroup upped their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Wedbush lifted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Barclays upped their target price on NVIDIA from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. Finally, Susquehanna lifted their price target on NVIDIA from $160.00 to $180.00 and gave the company a "positive" rating in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.15.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares of the company's stock, valued at $1,014,077,958.17. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company's stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,556,986 shares of company stock worth $201,687,727 in the last ninety days. Insiders own 4.23% of the company's stock.

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.