Legacy Bridge LLC Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Legacy Bridge LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,380 shares of the computer hardware maker’s stock after acquiring an additional 250 shares during the quarter. NVIDIA makes up about 3.8% of Legacy Bridge LLC’s portfolio, making the stock its biggest position. Legacy Bridge LLC’s holdings in NVIDIA were worth $7,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of NVDA. Legal & General Group Plc lifted its holdings in shares of NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of NVIDIA by 12,898.6% during the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after purchasing an additional 55,859,917 shares during the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of NVIDIA during the 3rd quarter valued at $4,589,905,000. Finally, Clearbridge Investments LLC lifted its holdings in shares of NVIDIA by 810.6% during the 2nd quarter. Clearbridge Investments LLC now owns 38,584,018 shares of the computer hardware maker’s stock valued at $4,766,670,000 after purchasing an additional 34,346,955 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NVDA. Wedbush reiterated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday. Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Mizuho raised their target price on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Finally, Bank of America restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $168.21.

Insider Buying and Selling

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction that occurred 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 directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 4.1 %

NVDA stock opened at $134.35 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $74.22 and a 12-month high of $153.13. The stock has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.87, a PEG ratio of 1.75 and a beta of 1.62. The business’s 50-day moving average is $134.66 and its 200 day moving average is $131.14.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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 company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the firm posted $0.38 EPS. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

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.