Echo Wealth Management LLC Has $271,000 Holdings in NVIDIA Co. (NASDAQ:NVDA)

Echo Wealth Management LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,017 shares of the computer hardware maker’s stock after selling 405 shares during the period. Echo Wealth Management LLC’s holdings in NVIDIA were worth $271,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NVDA. Legal & General Group Plc increased its stake in shares of 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. Ameriprise Financial Inc. boosted its stake in 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. International Assets Investment Management LLC grew its position in NVIDIA by 12,898.6% in the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after acquiring an additional 55,859,917 shares during the last quarter. Clear Street Derivatives LLC acquired a new position in NVIDIA during the third quarter worth about $4,589,905,000. Finally, Clearbridge Investments LLC lifted its holdings in shares of NVIDIA by 810.6% in the second quarter. Clearbridge Investments LLC now owns 38,584,018 shares of the computer hardware maker’s stock worth $4,766,670,000 after acquiring an additional 34,346,955 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’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 value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 in the last quarter. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Tigress Financial upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating and upped their price objective for the stock from $170.00 to $220.00 in a research report on Tuesday, January 28th. Susquehanna upped their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a report on Wednesday, January 8th. Evercore ISI upped their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. lifted their price target on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $168.21.

NVIDIA Trading Up 0.4 %

Shares of NVDA stock opened at $139.40 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 54.86, a PEG ratio of 1.62 and a beta of 1.62. NVIDIA Co. has a 52-week low of $66.25 and a 52-week high of $153.13. The company has a 50-day simple moving average of $134.52 and a two-hundred day simple moving average of $130.56.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating 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 company posted $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. Research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Company Profile

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.