Elk River Wealth Management LLC Has $6.76 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Elk River Wealth Management LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 50,335 shares of the computer hardware maker’s stock after acquiring an additional 318 shares during the period. NVIDIA accounts for 1.2% of Elk River Wealth Management LLC’s holdings, making the stock its 27th biggest position. Elk River Wealth Management LLC’s holdings in NVIDIA were worth $6,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Capital Performance Advisors LLP boosted 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 worth $3,586,000 after acquiring an additional 9,944 shares in the last quarter. Palisade Asset Management LLC increased 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 increased its holdings in shares of NVIDIA by 289.5% during the 4th quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after purchasing an additional 53,747 shares during the period. Blue Square Asset Management LLC raised its holdings in NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after acquiring an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management raised its stake in shares of NVIDIA by 5.1% in the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after purchasing an additional 26,373 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on NVDA. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Bank of America reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Finally, KeyCorp set a $190.00 price target on NVIDIA in a research report on Wednesday, March 19th. Four 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. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $171.51.

Insider Transactions at NVIDIA

In related news, 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 transaction of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value 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. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,609 shares of company stock worth $22,642,615 over the last ninety days. 4.23% of the stock is owned by insiders.

NVIDIA Price Performance

NVDA stock opened at $120.69 on Wednesday. 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 Co. has a 12 month low of $75.61 and a 12 month high of $153.13. The firm has a market cap of $2.94 trillion, a P/E ratio of 47.50, a P/E/G ratio of 1.76 and a beta of 1.77. The company’s 50-day moving average price is $126.46 and its two-hundred day moving average price is $131.58.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced 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 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 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.