Kennedy Investment Group Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Kennedy Investment Group lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,376 shares of the computer hardware maker’s stock after purchasing an additional 2,618 shares during the quarter. NVIDIA accounts for 3.5% of Kennedy Investment Group’s holdings, making the stock its 6th largest position. Kennedy Investment Group’s holdings in NVIDIA were worth $7,705,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NVDA. Legal & General Group Plc increased its stake in NVIDIA by 884.0% in the second 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 acquiring an additional 191,469,114 shares during the last quarter. Ameriprise Financial Inc. lifted 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 purchasing an additional 91,867,031 shares during the period. International Assets Investment Management LLC raised its stake in NVIDIA by 12,898.6% during the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after buying an additional 55,859,917 shares during the last quarter. Clear Street Derivatives LLC bought a new position in NVIDIA during the third quarter worth $4,589,905,000. Finally, Clearbridge Investments LLC raised its stake in NVIDIA by 810.6% during 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 buying an additional 34,346,955 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Down 4.1 %

NASDAQ:NVDA opened at $134.35 on Friday. The company has a market capitalization of $3.29 trillion, a PE ratio of 52.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62. The stock has a fifty day simple moving average of $134.66 and a 200-day simple moving average of $131.33. NVIDIA Co. has a 52-week low of $74.22 and a 52-week high of $153.13. 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 posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. On average, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on NVDA shares. JPMorgan Chase & Co. lifted their price target 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. Mizuho raised their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Stifel Nicolaus raised their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Wedbush reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday. Finally, Barclays raised their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $168.21.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was 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 directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

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.