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

Sanders Morris Harris LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,821 shares of the computer hardware maker’s stock after selling 3,880 shares during the period. NVIDIA makes up approximately 3.3% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 6th biggest position. Sanders Morris Harris LLC’s holdings in NVIDIA were worth $21,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Tacita Capital Inc bought a new stake in NVIDIA during the fourth quarter worth approximately $28,000. Vision Financial Markets LLC bought a new stake in NVIDIA during the fourth quarter worth approximately $38,000. Luken Investment Analytics LLC bought a new stake in NVIDIA during the fourth quarter worth approximately $40,000. Copia Wealth Management bought a new stake in NVIDIA during the fourth quarter worth approximately $50,000. Finally, LSV Asset Management bought a new stake in NVIDIA during the fourth quarter worth approximately $54,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $142.83 on Thursday. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $153.13. The firm’s fifty day simple moving average is $120.91 and its 200 day simple moving average is $126.34. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.49 trillion, a PE ratio of 56.21, a PEG ratio of 1.76 and a beta of 2.12.

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

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is presently 1.29%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NVDA shares. Piper Sandler restated an “overweight” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Barclays restated an “overweight” rating and issued a $170.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, DA Davidson upped their price target on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.24.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 190,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.51, for a total value of $27,076,900.00. Following the sale, the director now directly owns 8,855,848 shares in the company, valued at $1,262,046,898.48. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now owns 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,560,845 shares of company stock worth $360,351,849. 4.17% of the stock is owned by insiders.

About NVIDIA

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.