Elite Wealth Management Inc. Has $55.99 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Elite Wealth Management Inc. lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.2% in the third quarter, HoldingsChannel.com reports. The fund owned 461,031 shares of the computer hardware maker’s stock after purchasing an additional 5,472 shares during the period. NVIDIA accounts for 7.7% of Elite Wealth Management Inc.’s holdings, making the stock its 2nd biggest position. Elite Wealth Management Inc.’s holdings in NVIDIA were worth $55,988,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVDA. Ironwood Wealth Management LLC. grew its stake in shares of NVIDIA by 896.9% in the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after acquiring an additional 5,695 shares during the period. Financial Guidance Group Inc. grew its position in NVIDIA by 900.0% during the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after buying an additional 3,240 shares during the period. Planning Alternatives Ltd. ADV bought a new stake in NVIDIA during the second quarter valued at approximately $215,000. Kanawha Capital Management LLC grew its position in NVIDIA by 1,142.7% during the second quarter. Kanawha Capital Management LLC now owns 23,065 shares of the computer hardware maker’s stock valued at $2,849,000 after buying an additional 21,209 shares during the period. Finally, Cape ANN Savings Bank grew its position in NVIDIA by 1,917.7% during the second quarter. Cape ANN Savings Bank now owns 13,680 shares of the computer hardware maker’s stock valued at $1,690,000 after buying an additional 13,002 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Down 2.0 %

Shares of NVDA opened at $133.23 on Tuesday. NVIDIA Co. has a twelve month low of $54.74 and a twelve month high of $153.13. The company has a market cap of $3.26 trillion, a P/E ratio of 52.43, a P/E/G ratio of 2.43 and a beta of 1.64. 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 company’s fifty day simple moving average is $139.84 and its 200-day simple moving average is $128.76.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVDA. TD Cowen boosted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research report on Wednesday, January 8th. The Goldman Sachs Group upped their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Benchmark reiterated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research report on Tuesday, January 7th. Finally, Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.27.

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.