NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Elevation Wealth Partners LLC

Elevation Wealth Partners LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 18.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,053 shares of the computer hardware maker’s stock after acquiring an additional 2,214 shares during the quarter. Elevation Wealth Partners LLC’s holdings in NVIDIA were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Tacita Capital Inc bought a new stake in NVIDIA in the fourth quarter valued at about $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA in the fourth quarter worth approximately $40,000. Copia Wealth Management bought a new position in shares of NVIDIA in the fourth quarter valued at $50,000. Finally, LSV Asset Management bought a new position in shares of NVIDIA in the fourth quarter valued at $54,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 2.1%

Shares of NASDAQ NVDA opened at $141.97 on Friday. The company’s fifty day moving average is $122.77 and its 200-day moving average is $126.44. The stock has a market cap of $3.46 trillion, a price-to-earnings ratio of 55.87, a P/E/G ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The company’s revenue was up 69.2% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.29%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVDA shares. Mizuho boosted their target price on shares of NVIDIA from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, May 29th. DA Davidson upped their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. TD Cowen upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Benchmark reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $172.24.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director now owns 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,560,845 shares of company stock valued at $360,351,849. 4.17% of the stock is owned by company insiders.

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.