Elite Wealth Management Inc. Acquires 557 Shares of NVIDIA Co. (NASDAQ:NVDA)

Elite Wealth Management Inc. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,464 shares of the computer hardware maker’s stock after purchasing an additional 557 shares during the quarter. NVIDIA accounts for about 1.3% of Elite Wealth Management Inc.’s holdings, making the stock its 5th biggest holding. Elite Wealth Management Inc.’s holdings in NVIDIA were worth $21,524,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of NVIDIA by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after buying an additional 2,287,471 shares during the period. Northern Trust Corp raised its holdings in NVIDIA by 3.6% in the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after acquiring an additional 910,009 shares in the last quarter. International Assets Investment Management LLC lifted its stake in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after acquiring an additional 16,835,703 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in NVIDIA by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,197,744 shares of the computer hardware maker’s stock worth $5,740,887,000 after acquiring an additional 77,089 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of NVIDIA by 2.0% in the 3rd quarter. Wellington Management Group LLP now owns 10,544,759 shares of the computer hardware maker’s stock valued at $4,586,865,000 after purchasing an additional 209,085 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now owns 49,815 shares in the company, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,278 shares of company stock valued at $52,689,898. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $826.32 on Friday. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 69.21, a PEG ratio of 1.14 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. NVIDIA Co. has a 1 year low of $266.25 and a 1 year high of $974.00. The company’s 50 day simple moving average is $851.37 and its 200 day simple moving average is $632.39.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was up 265.3% on a year-over-year basis. On average, sell-side analysts predict that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s payout ratio is currently 1.34%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Tigress Financial lifted their price target on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Craig Hallum increased their price target on shares of NVIDIA from $700.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Benchmark restated a “buy” rating and set a $1,000.00 price objective on shares of NVIDIA in a research report on Wednesday, March 20th. TD Cowen increased their target price on shares of NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $1,100.00 price target on shares of NVIDIA in a research report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $940.30.

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.