Novare Capital Management LLC Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Novare Capital Management LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 169,057 shares of the computer hardware maker’s stock after buying an additional 4,096 shares during the period. NVIDIA accounts for about 1.9% of Novare Capital Management LLC’s portfolio, making the stock its 14th biggest position. Novare Capital Management LLC’s holdings in NVIDIA were worth $22,703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA during the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA in the 2nd quarter worth approximately $31,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $34,000. West Financial Advisors LLC purchased a new position in shares of NVIDIA during the 3rd quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake 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 during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were 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 of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were 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. In the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Monday, January 27th. Raymond James lifted their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. UBS Group increased their price target on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Stifel Nicolaus raised their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, DA Davidson upped their target price on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.21.

NVIDIA Stock Performance

NVIDIA stock opened at $139.40 on Wednesday. The firm has a 50 day simple moving average of $134.52 and a 200-day simple moving average of $130.56. The stock has a market cap of $3.41 trillion, a price-to-earnings ratio of 54.86, a price-to-earnings-growth ratio of 1.62 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1-year low of $66.25 and a 1-year high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

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.