NVIDIA Co. (NASDAQ:NVDA) is Avaii Wealth Management LLC’s 9th Largest Position

Avaii Wealth Management LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 352.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,205 shares of the computer hardware maker’s stock after purchasing an additional 39,120 shares during the quarter. NVIDIA makes up approximately 3.3% of Avaii Wealth Management LLC’s holdings, making the stock its 9th biggest position. Avaii Wealth Management LLC’s holdings in NVIDIA were worth $6,742,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NVDA. Ironwood Wealth Management LLC. raised its position in NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after acquiring an additional 5,695 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA during the 2nd quarter worth $31,000. Firestone Capital Management bought a new position in shares of NVIDIA during the 2nd quarter valued at $270,000. Fairway Wealth LLC acquired a new stake in shares of NVIDIA in the 2nd quarter valued at $247,000. Finally, Axxcess Wealth Management LLC boosted its holdings in NVIDIA by 981.1% in the second quarter. Axxcess Wealth Management LLC now owns 430,465 shares of the computer hardware maker’s stock worth $52,207,000 after purchasing an additional 390,648 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 0.4 %

NASDAQ NVDA opened at $139.40 on Wednesday. NVIDIA Co. has a 1-year low of $66.25 and a 1-year high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $134.52 and its two-hundred day moving average is $130.56. The company has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 54.86, a PEG ratio of 1.62 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the firm earned $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of several recent research reports. The Goldman Sachs Group raised their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Stifel Nicolaus boosted their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Truist Financial increased their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Rosenblatt Securities restated a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research note on Wednesday, January 8th. Finally, TD Cowen raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $168.21.

About NVIDIA

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.