Wealth Effects LLC Has $26.21 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Wealth Effects LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 195,151 shares of the computer hardware maker’s stock after selling 5,166 shares during the quarter. NVIDIA accounts for about 9.3% of Wealth Effects LLC’s portfolio, making the stock its biggest holding. Wealth Effects LLC’s holdings in NVIDIA were worth $26,207,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Stonegate Investment Group LLC lifted its position in shares of NVIDIA by 7.3% in the fourth quarter. Stonegate Investment Group LLC now owns 151,844 shares of the computer hardware maker’s stock valued at $20,391,000 after buying an additional 10,327 shares during the last quarter. Perigon Wealth Management LLC increased its stake in shares of NVIDIA by 5.1% in the 4th quarter. Perigon Wealth Management LLC now owns 1,785,874 shares of the computer hardware maker’s stock valued at $238,539,000 after purchasing an additional 86,608 shares during the last quarter. Proathlete Wealth Management LLC increased its stake in shares of NVIDIA by 8.1% in the 4th quarter. Proathlete Wealth Management LLC now owns 17,541 shares of the computer hardware maker’s stock valued at $2,356,000 after purchasing an additional 1,314 shares during the last quarter. Curbstone Financial Management Corp grew its position in NVIDIA by 51.1% during the 4th quarter. Curbstone Financial Management Corp now owns 14,306 shares of the computer hardware maker’s stock worth $1,921,000 after acquiring an additional 4,836 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in NVIDIA by 3.2% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 6,622 shares of the computer hardware maker’s stock worth $889,000 after acquiring an additional 207 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $134.35 on Friday. 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 52-week low of $74.22 and a 52-week high of $153.13. The company has a 50 day moving average of $134.66 and a two-hundred day moving average of $131.33. The company has a market cap of $3.29 trillion, a P/E ratio of 52.87, a P/E/G ratio of 1.76 and a beta of 1.62.

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

Analysts Set New Price Targets

A number of research firms have commented on NVDA. Benchmark reiterated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research report on Tuesday, January 7th. Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Citigroup raised their target price on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Susquehanna increased their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Evercore ISI raised their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.21.

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.