Elevatus Welath Management Acquires 29,950 Shares of NVIDIA Corporation $NVDA

Elevatus Welath Management grew its holdings in NVIDIA Corporation (NASDAQ:NVDAFree Report) by 49.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 91,098 shares of the computer hardware maker’s stock after acquiring an additional 29,950 shares during the quarter. NVIDIA comprises 4.6% of Elevatus Welath Management’s investment portfolio, making the stock its 3rd largest holding. Elevatus Welath Management’s holdings in NVIDIA were worth $16,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVDA. Joule Financial LLC lifted its position in NVIDIA by 2.2% during the 3rd quarter. Joule Financial LLC now owns 2,308 shares of the computer hardware maker’s stock worth $431,000 after acquiring an additional 50 shares during the period. Vision Financial Markets LLC increased its holdings in shares of NVIDIA by 1.2% in the third quarter. Vision Financial Markets LLC now owns 4,640 shares of the computer hardware maker’s stock valued at $866,000 after purchasing an additional 53 shares during the period. Websterrogers Financial Advisors LLC raised its stake in shares of NVIDIA by 2.6% during the third quarter. Websterrogers Financial Advisors LLC now owns 2,118 shares of the computer hardware maker’s stock worth $395,000 after purchasing an additional 54 shares during the last quarter. IMG Wealth Management Inc. raised its stake in shares of NVIDIA by 1.4% during the third quarter. IMG Wealth Management Inc. now owns 3,820 shares of the computer hardware maker’s stock worth $713,000 after purchasing an additional 54 shares during the last quarter. Finally, Cyr Financial Inc. lifted its holdings in shares of NVIDIA by 0.7% during the third quarter. Cyr Financial Inc. now owns 7,737 shares of the computer hardware maker’s stock worth $1,444,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 42,650 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $174.89, for a total value of $7,459,058.50. Following the sale, the chief financial officer directly owned 881,387 shares of the company’s stock, valued at approximately $154,145,772.43. This represents a 4.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 221,682 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $173.68, for a total transaction of $38,501,729.76. Following the transaction, the director owned 7,399,771 shares of the company’s stock, valued at $1,285,192,227.28. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,401,616 shares of company stock worth $253,555,407. 4.17% of the stock is owned by company insiders.

NVIDIA Stock Performance

NVDA opened at $177.39 on Friday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $212.19. The stock has a market cap of $4.31 trillion, a P/E ratio of 36.20, a P/E/G ratio of 0.59 and a beta of 2.34. The stock’s 50 day simple moving average is $182.41 and its 200 day simple moving average is $184.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.91 and a quick ratio of 3.24.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The computer hardware maker reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.08. The firm had revenue of $68.13 billion during the quarter, compared to analysts’ expectations of $65.56 billion. NVIDIA had a return on equity of 97.37% and a net margin of 55.60%.NVIDIA’s revenue was up 73.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th were given a $0.01 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s payout ratio is currently 0.82%.

Key NVIDIA News

Here are the key news stories impacting NVIDIA this week:

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. CICC Research upped their price objective on shares of NVIDIA from $228.00 to $240.60 and gave the stock an “outperform” rating in a research report on Friday, February 27th. BNP Paribas Exane raised their price objective on shares of NVIDIA from $260.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Wedbush lifted their price objective on NVIDIA from $230.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Macquarie Infrastructure raised NVIDIA to an “outperform” rating in a research note on Monday, December 29th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $275.00 price target (up from $250.00) on shares of NVIDIA in a report on Friday, January 16th. Four investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $275.25.

View Our Latest Report on NVDA

About NVIDIA

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

See Also

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDAFree Report).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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