Element Wealth LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Element Wealth LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,579 shares of the computer hardware maker’s stock after acquiring an additional 425 shares during the quarter. Element Wealth LLC’s holdings in NVIDIA were worth $435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the second quarter worth about $25,000. DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares in the last quarter. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the second quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the first quarter valued at about $27,000. Finally, Quest Partners LLC acquired a new stake in NVIDIA during the 2nd quarter valued at approximately $27,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares of the company’s stock, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,796,986 shares of company stock worth $214,418,399 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NVDA shares. Stifel Nicolaus raised their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Bank of America reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. William Blair began coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Melius Research raised their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Susquehanna raised their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 3.5 %

NASDAQ:NVDA opened at $145.14 on Thursday. The firm has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 57.12, a PEG ratio of 2.51 and a beta of 1.63. NVIDIA Co. has a 1-year low of $45.27 and a 1-year high of $152.89. 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 business’s fifty day moving average price is $137.32 and its 200 day moving average price is $124.90.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

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.