Elite Wealth Management Inc. Sells 29,278 Shares of NVIDIA Co. (NASDAQ:NVDA)

Elite Wealth Management Inc. lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 431,753 shares of the computer hardware maker’s stock after selling 29,278 shares during the period. NVIDIA comprises 7.2% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Elite Wealth Management Inc.’s holdings in NVIDIA were worth $57,980,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after buying an additional 11,525,969 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of NVIDIA by 3.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after acquiring an additional 6,526,200 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after acquiring an additional 2,042,348 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of NVIDIA by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock worth $11,745,763,000 after acquiring an additional 3,283,380 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in NVIDIA by 0.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 63,615,639 shares of the computer hardware maker’s stock worth $8,542,944,000 after purchasing an additional 186,761 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $111.43 on Friday. The business’s fifty day moving average price is $125.57 and its 200 day moving average price is $131.32. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. 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 stock has a market capitalization of $2.72 trillion, a P/E ratio of 43.85, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. As a group, research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,609 shares of company stock valued at $22,642,615. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVDA. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Truist Financial lifted their price target on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Finally, Wedbush restated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, February 20th. Four investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

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.