Kennedy Investment Group Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Kennedy Investment Group boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,376 shares of the computer hardware maker’s stock after acquiring an additional 2,618 shares during the period. NVIDIA accounts for 3.5% of Kennedy Investment Group’s holdings, making the stock its 6th biggest position. Kennedy Investment Group’s holdings in NVIDIA were worth $7,705,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc grew 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 worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Ameriprise Financial Inc. raised its position in NVIDIA by 870.3% in the second 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 raised its position in NVIDIA by 12,898.6% in the third 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 bought a new position in NVIDIA in the third quarter valued at about $4,589,905,000. Finally, Clearbridge Investments LLC raised its position in shares of NVIDIA by 810.6% during the second quarter. Clearbridge Investments LLC now owns 38,584,018 shares of the computer hardware maker’s stock worth $4,766,670,000 after acquiring an additional 34,346,955 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $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 ninety days, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wedbush restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday. Mizuho lifted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research note on Wednesday, January 8th. Tigress Financial raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating and boosted their price target for the stock from $170.00 to $220.00 in a research note on Tuesday, January 28th. Finally, Benchmark reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $168.21.

NVIDIA Price Performance

NASDAQ NVDA opened at $134.35 on Friday. NVIDIA Co. has a fifty-two week low of $74.22 and a fifty-two week high of $153.13. The stock’s 50-day moving average is $134.66 and its two-hundred day moving average is $131.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market cap of $3.29 trillion, a P/E ratio of 52.87, a price-to-earnings-growth ratio of 1.76 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, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 2.77 earnings per share 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.