Elevation Wealth Partners LLC Has $1.59 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Elevation Wealth Partners LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,839 shares of the computer hardware maker’s stock after selling 569 shares during the quarter. NVIDIA accounts for 0.7% of Elevation Wealth Partners LLC’s investment portfolio, making the stock its 29th largest holding. Elevation Wealth Partners LLC’s holdings in NVIDIA were worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the 3rd quarter worth approximately $27,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA in the fourth quarter worth $34,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the fourth quarter worth $40,000. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares in the last quarter. Finally, Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the fourth quarter valued at $46,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NVDA stock opened at $115.74 on Thursday. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13. The stock’s fifty day moving average price is $130.17 and its 200-day moving average price is $131.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $2.82 trillion, a P/E ratio of 45.55, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. On average, equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NVDA shares. Morgan Stanley reiterated an “overweight” rating and set a $162.00 price objective (up from $152.00) on shares of NVIDIA in a research report on Wednesday, February 26th. Loop Capital reiterated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Barclays boosted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. HSBC reduced their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group boosted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $171.69.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,110,295 shares of company stock valued at $146,698,216. 4.23% of the stock is owned by company insiders.

NVIDIA 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.