Elite Wealth Management Inc. lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.5% in the 2nd quarter, Holdings Channel reports. The firm owned 11,972 shares of the computer hardware maker’s stock after buying an additional 401 shares during the quarter. NVIDIA makes up 1.0% of Elite Wealth Management Inc.’s holdings, making the stock its 9th largest holding. Elite Wealth Management Inc.’s holdings in NVIDIA were worth $2,836,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of NVDA. Creative Financial Designs Inc. ADV lifted its holdings in NVIDIA by 139.4% in the first quarter. Creative Financial Designs Inc. ADV now owns 1,094 shares of the computer hardware maker’s stock worth $253,000 after acquiring an additional 637 shares during the last quarter. Ashfield Capital Partners LLC raised its holdings in shares of NVIDIA by 6.6% during the first quarter. Ashfield Capital Partners LLC now owns 8,605 shares of the computer hardware maker’s stock valued at $1,993,000 after buying an additional 535 shares during the last quarter. Howland Capital Management LLC bought a new stake in shares of NVIDIA during the first quarter valued at approximately $380,000. Morse Asset Management Inc bought a new stake in shares of NVIDIA during the first quarter valued at approximately $961,000. Finally, Miracle Mile Advisors LLC bought a new stake in shares of NVIDIA during the first quarter valued at approximately $1,341,000. 65.69% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:NVDA opened at $277.81 on Friday. NVIDIA Co. has a 12 month low of $162.26 and a 12 month high of $281.72. The company has a market cap of $166.82 billion, a P/E ratio of 59.49, a PEG ratio of 3.60 and a beta of 1.56. The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.28. NVIDIA had a return on equity of 54.18% and a net margin of 36.21%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The firm’s quarterly revenue was up 40.0% compared to the same quarter last year. analysts anticipate that NVIDIA Co. will post 7.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Thursday, August 30th will be given a $0.15 dividend. The ex-dividend date is Wednesday, August 29th. This represents a $0.60 annualized dividend and a yield of 0.22%. NVIDIA’s dividend payout ratio (DPR) is 12.85%.

A number of research firms have recently weighed in on NVDA. B. Riley lifted their price target on NVIDIA from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, May 11th. BidaskClub cut NVIDIA from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 18th. Stifel Nicolaus reaffirmed a “hold” rating and set a $250.00 price target (up previously from $243.00) on shares of NVIDIA in a report on Friday, August 17th. Deutsche Bank lifted their price target on NVIDIA from $230.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday, May 8th. Finally, Mizuho lifted their price target on NVIDIA to $280.00 and gave the company a “buy” rating in a report on Friday, May 11th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $281.58.

In other NVIDIA news, Director Harvey C. Jones sold 100,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 26th. The shares were sold at an average price of $242.11, for a total value of $24,211,000.00. Following the transaction, the director now owns 31,725 shares in the company, valued at $7,680,939.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director A Brooke Seawell sold 21,029 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $264.65, for a total transaction of $5,565,324.85. Following the completion of the transaction, the director now owns 21,992 shares in the company, valued at approximately $5,820,182.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,601 shares of company stock worth $41,270,636. 4.70% of the stock is currently owned by company insiders.

NVIDIA Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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