Elemental Capital Partners LLC Purchases Shares of 49,496 NVIDIA Co. (NASDAQ:NVDA)

Elemental Capital Partners LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 49,496 shares of the computer hardware maker’s stock, valued at approximately $6,647,000. NVIDIA comprises 6.2% of Elemental Capital Partners LLC’s holdings, making the stock its 5th biggest holding.

A number of other hedge funds have also recently modified their holdings of NVDA. Ironwood Wealth Management LLC. grew its position in NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after buying an additional 5,695 shares during the period. AMF Tjanstepension AB grew its position in shares of NVIDIA by 2.2% during the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after acquiring an additional 169,445 shares during the period. Czech National Bank raised its holdings in NVIDIA by 6.9% in the 3rd quarter. Czech National Bank now owns 5,011,687 shares of the computer hardware maker’s stock worth $608,619,000 after purchasing an additional 323,570 shares during the period. WealthBridge Capital Management LLC boosted its position in NVIDIA by 19.4% during the third quarter. WealthBridge Capital Management LLC now owns 53,266 shares of the computer hardware maker’s stock worth $6,469,000 after purchasing an additional 8,637 shares in the last quarter. Finally, Cora Capital Advisors LLC grew its holdings in NVIDIA by 4.3% in the third quarter. Cora Capital Advisors LLC now owns 10,975 shares of the computer hardware maker’s stock valued at $1,333,000 after purchasing an additional 448 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,107,632 shares of company stock valued at $146,405,286 in the last 90 days. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. Redburn Atlantic initiated coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Susquehanna upped their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Robert W. Baird lifted their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Finally, Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $171.69.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $110.57 on Friday. The firm’s fifty day simple moving average is $132.15 and its 200-day simple moving average is $131.75. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.70 trillion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

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.