NVIDIA Co. (NASDAQ:NVDA) is Sanders Morris Harris LLC’s 4th Largest Position

Sanders Morris Harris LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,010 shares of the computer hardware maker’s stock after purchasing an additional 9,040 shares during the period. NVIDIA accounts for 3.9% of Sanders Morris Harris LLC’s portfolio, making the stock its 4th largest holding. Sanders Morris Harris LLC’s holdings in NVIDIA were worth $23,682,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. China Universal Asset Management Co. Ltd. lifted its stake in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares in the last quarter. SWS Partners lifted its stake in shares of NVIDIA by 11.6% in the 1st quarter. SWS Partners now owns 5,968 shares of the computer hardware maker’s stock valued at $5,393,000 after purchasing an additional 620 shares during the last quarter. Norden Group LLC lifted its position in NVIDIA by 23.0% in the first quarter. Norden Group LLC now owns 10,738 shares of the computer hardware maker’s stock worth $9,703,000 after buying an additional 2,005 shares during the last quarter. Longbow Finance SA boosted its stake in shares of NVIDIA by 12.9% during the 1st quarter. Longbow Finance SA now owns 62,444 shares of the computer hardware maker’s stock worth $56,422,000 after purchasing an additional 7,158 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its position in shares of NVIDIA by 6.7% during the first quarter. J.W. Cole Advisors Inc. now owns 33,089 shares of the computer hardware maker’s stock valued at $29,900,000 after buying an additional 2,070 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent analyst reports. Mizuho boosted their target price on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler increased their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday. Robert W. Baird lifted their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $138.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.63.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $145.26 on Tuesday. NVIDIA Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The firm has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 68.20, a PEG ratio of 1.56 and a beta of 1.66. The company’s 50-day moving average is $127.27 and its two-hundred day moving average is $118.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. Analysts forecast that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is currently 1.88%.

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

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA 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.