NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. trimmed its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and 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 accounts for 7.2% of Elite Wealth Management Inc.'s portfolio, making the stock its 2nd largest position. Elite Wealth Management Inc.'s holdings in NVIDIA were worth $57,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP raised its stake in shares of NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after buying an additional 9,944 shares during the last quarter. Palisade Asset Management LLC raised its position in 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 acquiring an additional 75 shares during the period. SMART Wealth LLC grew its position in shares of NVIDIA by 289.5% in the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker's stock valued at $9,711,000 after purchasing an additional 53,747 shares during the period. Blue Square Asset Management LLC increased its stake in NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker's stock worth $5,840,000 after buying an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management increased its position 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 in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 183,609 shares of company stock valued at $22,642,615. 4.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on NVDA. Needham & Company LLC reiterated a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Barclays boosted their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. William Blair reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Susquehanna reissued a "positive" rating and set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Truist Financial boosted their price target on shares of NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Four equities research 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $171.51.

NVIDIA Stock Down 1.2 %

NASDAQ:NVDA traded down $1.29 during trading hours on Monday, hitting $108.38. 298,472,157 shares of the company's stock traded hands, compared to its average volume of 314,645,913. The stock's fifty day moving average price is $124.42 and its two-hundred day moving average price is $131.53. The firm has a market cap of $2.64 trillion, a P/E ratio of 42.65, 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 Co. has a twelve month low of $75.61 and a twelve month high of $195.95.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA's payout ratio is presently 1.36%.

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.