Adell Harriman & Carpenter Inc. Increases Position in Nvidia (NVDA)

Adell Harriman & Carpenter Inc. increased its holdings in shares of Nvidia (NASDAQ:NVDA) by 16.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,334 shares of the computer hardware maker’s stock after purchasing an additional 1,607 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Nvidia were worth $2,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in NVDA. Atria Investments LLC boosted its position in Nvidia by 18.3% in the 4th quarter. Atria Investments LLC now owns 14,249 shares of the computer hardware maker’s stock valued at $2,757,000 after buying an additional 2,202 shares during the last quarter. Pennsylvania Trust Co purchased a new position in Nvidia in the 4th quarter valued at about $230,000. First National Trust Co boosted its position in Nvidia by 44.9% in the 4th quarter. First National Trust Co now owns 11,093 shares of the computer hardware maker’s stock valued at $2,146,000 after buying an additional 3,435 shares during the last quarter. Spirit of America Management Corp NY boosted its position in Nvidia by 31.3% in the 4th quarter. Spirit of America Management Corp NY now owns 1,970 shares of the computer hardware maker’s stock valued at $381,000 after buying an additional 470 shares during the last quarter. Finally, Capital Investment Advisors LLC purchased a new position in Nvidia in the 4th quarter valued at about $204,000. 66.89% of the stock is owned by hedge funds and other institutional investors.

In other Nvidia news, EVP Ajay K. Puri sold 38,676 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $255.36, for a total value of $9,876,303.36. Following the sale, the executive vice president now owns 508,962 shares in the company, valued at $129,968,536.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Persis Drell sold 5,141 shares of the firm’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $220.73, for a total transaction of $1,134,772.93. Following the completion of the sale, the director now owns 20,963 shares in the company, valued at approximately $4,627,162.99. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 624 shares of company stock worth $10,998 and sold 75,969 shares worth $18,708,706. 4.70% of the stock is currently owned by company insiders.

A number of equities analysts have weighed in on the stock. Mizuho upped their price objective on shares of Nvidia to $280.00 and gave the company a “buy” rating in a research report on Friday, May 11th. MKM Partners upped their price objective on shares of Nvidia to $255.00 and gave the company a “neutral” rating in a research report on Friday, May 11th. Barclays upped their price objective on shares of Nvidia from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, May 11th. UBS upped their price objective on shares of Nvidia from $250.00 to $266.00 and gave the company a “neutral” rating in a research report on Friday, May 11th. Finally, B. Riley upped their price objective on shares of Nvidia from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, May 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $255.65.

Shares of NASDAQ:NVDA opened at $247.71 on Friday. Nvidia has a 52 week low of $242.51 and a 52 week high of $248.51. The company has a market capitalization of $149.06 billion, a price-to-earnings ratio of 53.04, a PEG ratio of 3.38 and a beta of 1.52. The company has a current ratio of 8.54, a quick ratio of 7.82 and a debt-to-equity ratio of 0.26.

Nvidia (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, May 10th. The computer hardware maker reported $2.05 EPS for the quarter, beating the consensus estimate of $1.47 by $0.58. Nvidia had a net margin of 34.44% and a return on equity of 52.18%. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the business earned $0.85 earnings per share. Nvidia’s revenue was up 65.6% compared to the same quarter last year. sell-side analysts predict that Nvidia will post 7.08 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 24th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, May 23rd. This represents a $0.60 annualized dividend and a dividend yield of 0.24%. Nvidia’s payout ratio is currently 12.85%.

About Nvidia

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

Institutional Ownership by Quarter for Nvidia (NASDAQ:NVDA)

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