NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Sanders Morris Harris LLC

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

Other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its position in shares of 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 valued at $34,597,000 after buying an additional 13,135 shares during the last quarter. SWS Partners lifted its position 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 worth $5,393,000 after purchasing an additional 620 shares during the period. Norden Group LLC boosted its stake in shares of NVIDIA by 23.0% in the 1st quarter. Norden Group LLC now owns 10,738 shares of the computer hardware maker’s stock valued at $9,703,000 after purchasing an additional 2,005 shares during the last quarter. Longbow Finance SA increased its position in shares of NVIDIA by 12.9% during the first quarter. Longbow Finance SA now owns 62,444 shares of the computer hardware maker’s stock worth $56,422,000 after buying an additional 7,158 shares during the period. Finally, J.W. Cole Advisors Inc. raised its stake in 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 worth $29,900,000 after buying an additional 2,070 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Tuesday, October 8th. Truist Financial raised their price objective on shares of NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Wedbush restated an “outperform” rating and issued a $138.00 target price on shares of NVIDIA in a report on Thursday, August 29th. Melius Research boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday. Finally, Benchmark restated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $145.63.

NVIDIA Trading Down 1.6 %

Shares of NVDA stock opened at $145.26 on Tuesday. 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 Co. has a 1-year low of $45.01 and a 1-year high of $149.77. The business has a 50-day moving average of $127.27 and a 200 day moving average of $118.46. The stock has a market capitalization of $3.56 trillion, a PE ratio of 68.20, a P/E/G ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.66 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend 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 of Directors has authorized a share repurchase plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, September 9th. The shares were 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 directly owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Corporate 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.