Gateway Wealth Partners LLC Boosts Position in NVIDIA Co. (NASDAQ:NVDA)

Gateway Wealth Partners LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 26,963 shares of the computer hardware maker’s stock after acquiring an additional 1,717 shares during the quarter. NVIDIA comprises 0.9% of Gateway Wealth Partners LLC’s holdings, making the stock its 26th largest position. Gateway Wealth Partners LLC’s holdings in NVIDIA were worth $3,621,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. International Assets Investment Management LLC grew its holdings in NVIDIA by 12,898.6% during the 3rd 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 acquiring an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC bought a new position in NVIDIA during the 3rd quarter worth about $4,589,905,000. Finally, Clearbridge Investments LLC grew its holdings in NVIDIA by 810.6% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $134.35 on Friday. NVIDIA Co. has a 52-week low of $74.22 and a 52-week high of $153.13. The firm has a market capitalization of $3.29 trillion, a PE ratio of 52.87, 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. The business’s 50-day simple moving average is $134.66 and its 200 day simple moving average is $131.33.

NVIDIA (NASDAQ:NVDA) last posted its 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVDA. Barclays raised their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Stifel Nicolaus raised their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Piper Sandler raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The stock was 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 directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company’s stock.

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.