Merrion Investment Management Co LLC Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Merrion Investment Management Co LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,900 shares of the computer hardware maker’s stock after selling 100 shares during the period. NVIDIA accounts for about 0.8% of Merrion Investment Management Co LLC’s holdings, making the stock its 26th biggest position. Merrion Investment Management Co LLC’s holdings in NVIDIA were worth $1,195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in NVIDIA by 2.2% during the third 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 increased its position in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of NVIDIA by 3.8% during the 3rd 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 worth $21,908,236,000 after buying an additional 6,526,200 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after buying an additional 2,042,348 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake 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 in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NVDA shares. Evercore ISI increased their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Redburn Atlantic started coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. DA Davidson boosted their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Mizuho boosted their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $168.21.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’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 transaction of $608,760.00. Following the sale, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is owned by insiders.

NVIDIA Stock Down 3.1 %

Shares of NVDA opened at $130.28 on Tuesday. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The company’s fifty day moving average is $134.63 and its two-hundred day moving average is $131.74. The firm has a market cap of $3.19 trillion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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.