Sanders Morris Harris LLC Has $21.07 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Sanders Morris Harris LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.0% in the first quarter, Holdings Channel.com reports. The fund owned 191,821 shares of the computer hardware maker’s stock after selling 3,880 shares during the quarter. NVIDIA accounts for approximately 3.3% of Sanders Morris Harris LLC’s portfolio, making the stock its 6th largest position. Sanders Morris Harris LLC’s holdings in NVIDIA were worth $21,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Tacita Capital Inc bought a new position in NVIDIA during the 4th quarter valued at about $28,000. Vision Financial Markets LLC bought a new position in NVIDIA during the 4th quarter valued at about $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA during the 4th quarter valued at about $40,000. Copia Wealth Management bought a new position in NVIDIA during the 4th quarter valued at about $50,000. Finally, LSV Asset Management bought a new position in NVIDIA during the 4th quarter valued at about $54,000. 65.27% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,560,845 shares of company stock worth $360,351,849 over the last quarter. 4.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NVDA has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Bank of America boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, TD Cowen boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $172.24.

NVIDIA Stock Down 0.8%

NVIDIA stock opened at $142.83 on Thursday. The stock has a market capitalization of $3.49 trillion, a PE ratio of 56.21, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $120.91 and a 200-day moving average of $126.34.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 EPS. On average, equities research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

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.