Parsons Capital Management Inc. RI Has $36.77 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Parsons Capital Management Inc. RI raised its position in NVIDIA Co. (NASDAQ:NVDA) by 64.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 273,831 shares of the computer hardware maker’s stock after buying an additional 107,727 shares during the quarter. NVIDIA comprises about 2.0% of Parsons Capital Management Inc. RI’s portfolio, making the stock its 7th largest position. Parsons Capital Management Inc. RI’s holdings in NVIDIA were worth $36,773,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA during the 2nd quarter worth $31,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA during the 4th quarter worth $34,000. West Financial Advisors LLC acquired a new stake in NVIDIA in the third quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on NVDA. HSBC dropped their target price on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. raised their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Needham & Company LLC upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Susquehanna raised their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, Wedbush restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

NVIDIA Price Performance

Shares of NASDAQ NVDA 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’s 50-day simple moving average is $134.66 and its 200 day simple moving average is $130.91. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.14, a PEG ratio of 1.75 and a beta of 1.62. NVIDIA Co. has a fifty-two week low of $66.25 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced 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 return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 in the last three months. 4.23% of the stock is currently owned by insiders.

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.