Summa Corp. Lowers Holdings in NVIDIA Co. (NASDAQ:NVDA)

Summa Corp. reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 810,560 shares of the computer hardware maker’s stock after selling 8,550 shares during the period. NVIDIA comprises about 53.4% of Summa Corp.’s investment portfolio, making the stock its biggest position. Summa Corp.’s holdings in NVIDIA were worth $108,850,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in NVIDIA by 884.0% in the second 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 holdings in shares of 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 buying an additional 91,867,031 shares during the last quarter. International Assets Investment Management LLC lifted its position in 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 worth $6,836,220,000 after buying an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC bought a new stake in NVIDIA during the 3rd quarter worth about $4,589,905,000. Finally, Clearbridge Investments LLC increased its position in NVIDIA by 810.6% in 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 acquiring an additional 34,346,955 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research reports. The Goldman Sachs Group raised their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upped their price target on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. TD Cowen lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Wedbush restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, February 20th. Four investment 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.21.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents 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 available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 1,107,632 shares of company stock worth $146,405,286 over the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 3.1 %

NASDAQ NVDA opened at $130.28 on Tuesday. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. 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 stock’s 50 day moving average price is $134.63 and its two-hundred day moving average price is $131.74. The stock has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 51.27, a PEG ratio of 1.76 and a beta of 1.62.

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.