Elevate Capital Advisors LLC Purchases New Stake in NVIDIA Co. (NASDAQ:NVDA)

Elevate Capital Advisors LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,031 shares of the computer hardware maker’s stock, valued at approximately $273,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Palisade Asset Management LLC raised its holdings in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the period. Blue Square Asset Management LLC raised its holdings in shares of NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares during the period. SMART Wealth LLC raised its holdings in shares of NVIDIA by 289.5% during the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after purchasing an additional 53,747 shares during the period. Narwhal Capital Management raised its holdings in shares of NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after purchasing an additional 26,373 shares during the period. Finally, Tybourne Capital Management HK Ltd. raised its holdings in shares of NVIDIA by 46.7% during the third quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock worth $2,043,000 after purchasing an additional 5,360 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,107,632 shares of company stock valued at $146,405,286 over the last ninety days. 4.23% of the stock is owned by insiders.

NVIDIA Trading Up 1.7 %

NASDAQ:NVDA opened at $108.76 on Wednesday. The stock’s 50 day moving average price is $130.54 and its 200 day moving average price is $131.42. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a market capitalization of $2.65 trillion, a P/E ratio of 42.80, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date 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 1.36%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. TD Cowen upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Finally, Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $171.69.

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.