Clarendon Private LLC Acquires Shares of 62,813 NVIDIA Co. (NASDAQ:NVDA)

Clarendon Private LLC bought a new stake in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 62,813 shares of the computer hardware maker’s stock, valued at approximately $8,435,000. NVIDIA makes up 8.8% of Clarendon Private LLC’s investment portfolio, making the stock its biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of NVIDIA by 2.2% in 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 acquiring an additional 11,525,969 shares during the last quarter. Legal & General Group Plc lifted its stake in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in NVIDIA by 3.8% in 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of research reports. Benchmark restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Tuesday, January 7th. Robert W. Baird boosted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Wedbush lifted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Morgan Stanley decreased their price objective on NVIDIA from $166.00 to $152.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Truist Financial upped their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $168.21.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $139.40 on Wednesday. The stock has a market cap of $3.41 trillion, a price-to-earnings ratio of 54.86, a PEG ratio of 1.62 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $66.25 and a fifty-two week high of $153.13. The firm’s 50-day simple moving average is $134.52 and its 200 day simple moving average is $130.56.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company 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 revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. As a group, research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the 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 sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $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. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

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.