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

Synergy Asset Management LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 110.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 568,698 shares of the computer hardware maker’s stock after buying an additional 298,218 shares during the quarter. NVIDIA comprises 5.7% of Synergy Asset Management LLC’s holdings, making the stock its 4th largest position. Synergy Asset Management LLC’s holdings in NVIDIA were worth $74,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hoertkorn Richard Charles increased its holdings in shares of NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after acquiring an additional 70 shares during the period. DiNuzzo Private Wealth Inc. increased its holdings in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after acquiring an additional 71 shares during the period. Smart Portfolios LLC increased its holdings in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after acquiring an additional 75 shares during the period. Palisade Asset Management LLC increased its stake in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after buying an additional 75 shares during the period. Finally, Baker Boyer National Bank increased its stake in NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after buying an additional 76 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA opened at $130.28 on Tuesday. The company’s 50 day moving average price is $134.63 and its 200 day moving average price is $131.74. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a market capitalization of $3.19 trillion, a PE ratio of 51.27, a PEG ratio of 1.76 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.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on 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 completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % 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 ninety days. 4.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on NVDA shares. Bank of America reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Mizuho raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. The Goldman Sachs Group raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Truist Financial raised their target price on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Four investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.