Baron Wealth Management LLC Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Baron Wealth Management LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,807 shares of the computer hardware maker’s stock after purchasing an additional 865 shares during the period. NVIDIA accounts for 1.1% of Baron Wealth Management LLC’s investment portfolio, making the stock its 13th largest position. Baron Wealth Management LLC’s holdings in NVIDIA were worth $2,391,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in NVDA. Geode Capital Management LLC lifted its stake in NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after purchasing an additional 11,525,969 shares in the last quarter. Legal & General Group Plc raised its position in shares of 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 buying an additional 191,469,114 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after buying an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. grew its position in NVIDIA by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after buying an additional 2,042,348 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,107,632 shares of company stock worth $146,405,286 over the last three months. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVDA. Deutsche Bank Aktiengesellschaft lifted their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. DA Davidson lifted their target price on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Evercore ISI increased their price target on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Tuesday, January 7th. Finally, Tigress Financial raised NVIDIA from a “buy” rating to a “strong-buy” rating and increased their target price for the company from $170.00 to $220.00 in a research note on Tuesday, January 28th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.21.

NVIDIA Trading Down 3.1 %

NASDAQ:NVDA opened at $130.28 on Tuesday. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $134.63 and a 200-day moving average price of $131.74. The stock has a market cap of $3.19 trillion, a price-to-earnings ratio of 51.27, a P/E/G ratio of 1.76 and a beta of 1.62.

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.