Stonegate Investment Group LLC Purchases 10,327 Shares of NVIDIA Co. (NASDAQ:NVDA)

Stonegate Investment Group LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 7.3% during the fourth quarter, Holdings Channel reports. The firm owned 151,844 shares of the computer hardware maker’s stock after buying an additional 10,327 shares during the quarter. Stonegate Investment Group LLC’s holdings in NVIDIA were worth $20,391,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the 2nd quarter valued at about $31,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the 4th quarter valued at about $34,000. West Financial Advisors LLC bought a new position in NVIDIA in the 3rd quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in 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 acquiring an additional 140 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVDA. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a report on Monday, January 27th. Melius Research increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Redburn Atlantic started coverage on shares of NVIDIA in a report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Piper Sandler raised their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $168.21.

Insider Buying and Selling

In other news, 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 completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 over the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $134.35 on Friday. NVIDIA Co. has a twelve month low of $74.22 and a twelve month high of $153.13. The firm has a fifty day simple moving average of $134.66 and a 200 day simple moving average of $131.33. The company has a market capitalization of $3.29 trillion, a PE ratio of 52.87, a P/E/G ratio of 1.76 and a beta of 1.62. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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

NVIDIA 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.