Sanders Morris Harris LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 213.6% in the third quarter, HoldingsChannel reports. The firm owned 5,020 shares of the computer hardware maker’s stock after purchasing an additional 3,419 shares during the quarter. Sanders Morris Harris LLC’s holdings in NVIDIA were worth $2,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Hoover Financial Advisors Inc. acquired a new position in NVIDIA during the 2nd quarter valued at approximately $32,000. Atlantic Trust LLC boosted its position in NVIDIA by 46.9% during the 2nd quarter. Atlantic Trust LLC now owns 94 shares of the computer hardware maker’s stock valued at $36,000 after purchasing an additional 30 shares during the period. Ellevest Inc. boosted its position in NVIDIA by 256.7% during the 2nd quarter. Ellevest Inc. now owns 107 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 77 shares during the period. Avondale Wealth Management acquired a new position in NVIDIA during the 3rd quarter valued at approximately $49,000. Finally, Blue Bell Private Wealth Management LLC acquired a new position in NVIDIA during the 2nd quarter valued at approximately $50,000. Institutional investors and hedge funds own 68.11% of the company’s stock.
Shares of NVDA stock traded down $6.34 on Friday, reaching $552.46. 6,065,990 shares of the company’s stock traded hands, compared to its average volume of 13,184,020. NVIDIA Co. has a 12-month low of $180.68 and a 12-month high of $589.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.51 and a current ratio of 6.09. The company has a market capitalization of $340.87 billion, a P/E ratio of 101.56, a price-to-earnings-growth ratio of 4.10 and a beta of 1.55. The business’s 50 day moving average price is $521.45 and its two-hundred day moving average price is $401.87.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Wednesday, September 2nd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.12%. NVIDIA’s dividend payout ratio is 13.94%.
In other news, EVP Ajay K. Puri sold 12,692 shares of NVIDIA stock in a transaction on Friday, July 24th. The stock was sold at an average price of $405.60, for a total transaction of $5,147,875.20. Following the transaction, the executive vice president now owns 61,983 shares in the company, valued at $25,140,304.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 100,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $489.84, for a total value of $48,984,000.00. Following the completion of the transaction, the chief executive officer now owns 1,370,600 shares in the company, valued at approximately $671,374,704. The disclosure for this sale can be found here. Insiders have sold 173,320 shares of company stock worth $87,129,970 in the last quarter. 4.47% of the stock is currently owned by corporate insiders.
A number of research analysts recently issued reports on NVDA shares. Raymond James restated a “buy” rating on shares of NVIDIA in a research report on Tuesday, October 6th. Citigroup lifted their target price on NVIDIA from $392.00 to $540.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Craig Hallum lifted their target price on NVIDIA from $480.00 to $500.00 and gave the company a “hold” rating in a research note on Tuesday, September 15th. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price (up previously from $525.00) on shares of NVIDIA in a research note on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on NVIDIA from $405.00 to $450.00 and gave the company a “hold” rating in a research note on Thursday, August 20th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-one have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $521.49.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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