Ellis Investment Partners LLC Sells 1,344 Shares of NVIDIA Co. (NASDAQ:NVDA)

Ellis Investment Partners LLC lessened its position in NVIDIA Co. (NASDAQ:NVDA) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,829 shares of the computer hardware maker’s stock after selling 1,344 shares during the period. Ellis Investment Partners LLC’s holdings in NVIDIA were worth $1,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Next Level Wealth Planning LLC purchased a new stake in shares of NVIDIA in the 4th quarter worth about $1,249,000. TigerOak Management L.L.C. bought a new position in NVIDIA in the fourth quarter worth about $32,999,000. Seascape Capital Management lifted its holdings in NVIDIA by 0.5% in the fourth quarter. Seascape Capital Management now owns 43,324 shares of the computer hardware maker’s stock worth $5,818,000 after buying an additional 215 shares during the period. Puff Wealth Management LLC bought a new stake in NVIDIA during the 4th quarter valued at approximately $1,771,000. Finally, American Financial Advisors LLC grew its holdings in shares of NVIDIA by 1.7% during the 4th quarter. American Financial Advisors LLC now owns 19,733 shares of the computer hardware maker’s stock worth $2,650,000 after acquiring an additional 334 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $171.76.

NVIDIA Price Performance

NASDAQ NVDA opened at $117.52 on Thursday. The business’s fifty day moving average is $127.71 and its 200 day moving average is $131.12. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $2.87 trillion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

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, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced 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. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Insiders Place Their Bets

In related 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 owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,449 shares of company stock worth $11,960,727. Corporate insiders own 4.23% of the company’s stock.

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.