McLean Asset Management Corp Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

McLean Asset Management Corp boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,929 shares of the computer hardware maker’s stock after buying an additional 1,157 shares during the quarter. NVIDIA makes up 1.9% of McLean Asset Management Corp’s holdings, making the stock its 14th biggest position. McLean Asset Management Corp’s holdings in NVIDIA were worth $6,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA in the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the fourth quarter valued at approximately $34,000. West Financial Advisors LLC acquired a new position in shares of NVIDIA during the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. raised its stake in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 0.6 %

NVIDIA stock opened at $140.11 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a 50 day moving average price of $134.66 and a 200 day moving average price of $130.91. NVIDIA Co. has a fifty-two week low of $66.25 and a fifty-two week high of $153.13. The company has a market capitalization of $3.43 trillion, a PE ratio of 55.14, a price-to-earnings-growth ratio of 1.75 and a beta of 1.62.

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

Analyst Ratings Changes

Several equities research analysts recently commented on NVDA shares. Raymond James boosted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Robert W. Baird lifted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Barclays upped their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Bank of America reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Finally, Piper Sandler boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

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.