NVIDIA Co. (NASDAQ:NVDA) is Synergy Asset Management LLC’s 4th Largest Position

Synergy Asset Management LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 110.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 568,698 shares of the computer hardware maker’s stock after purchasing an additional 298,218 shares during the period. NVIDIA makes up approximately 5.7% of Synergy Asset Management LLC’s investment portfolio, making the stock its 4th largest position. Synergy Asset Management LLC’s holdings in NVIDIA were worth $74,094,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NVDA. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA in the 2nd quarter valued at $31,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the 4th quarter valued at $34,000. West Financial Advisors LLC acquired a new stake in shares of NVIDIA in the 3rd quarter valued at $36,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 3.1 %

NVDA stock opened at $130.28 on Tuesday. The company has a market cap of $3.19 trillion, a P/E ratio of 51.27, a P/E/G ratio of 1.76 and a beta of 1.62. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company’s 50-day moving average price is $134.63 and its 200 day moving average price is $131.74. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

Insider Buying and Selling

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, 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. Over the last 90 days, insiders have sold 1,107,632 shares of company stock valued at $146,405,286. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. DA Davidson raised their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Melius Research raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays raised their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Evercore ISI raised their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report 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 assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $168.21.

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.