Legacy Trust Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Legacy Trust reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,313 shares of the computer hardware maker’s stock after selling 3,092 shares during the quarter. Legacy Trust’s holdings in NVIDIA were worth $3,802,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its position in shares of 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 in the last quarter. Ameriprise Financial Inc. raised its stake in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in NVIDIA by 12,898.6% in the 3rd 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 purchasing an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC acquired a new stake in shares of NVIDIA during the 3rd quarter worth about $4,589,905,000. Finally, Clearbridge Investments LLC grew its holdings in shares of 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 in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of analyst reports. TD Cowen raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a report on Monday. Tigress Financial raised NVIDIA from a “buy” rating to a “strong-buy” rating and lifted their price objective for the company from $170.00 to $220.00 in a research report on Tuesday, January 28th. Mizuho raised their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Phillip Securities restated an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.21.

NVIDIA Price Performance

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

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, 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. Over the last quarter, insiders sold 1,107,632 shares of company stock valued at $146,405,286. 4.23% of the stock is currently owned by corporate insiders.

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.