Smith Group Asset Management LLC Buys 4,720 Shares of NVIDIA Co. (NASDAQ:NVDA)

Smith Group Asset Management LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,910 shares of the computer hardware maker’s stock after purchasing an additional 4,720 shares during the period. Smith Group Asset Management LLC’s holdings in NVIDIA were worth $8,985,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA during the third quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA in the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the fourth quarter worth about $34,000. West Financial Advisors LLC acquired a new stake in shares of NVIDIA in the third quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVDA has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Tigress Financial raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating and increased their price objective for the stock from $170.00 to $220.00 in a research report on Tuesday, January 28th. Wells Fargo & Company increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. HSBC reduced their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Stifel Nicolaus increased their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Four investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $168.21.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s 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 transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,107,632 shares of company stock valued at $146,405,286. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $134.35 on Monday. The company has a market cap 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 company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $74.22 and a 12-month high of $153.13. The stock has a 50-day moving average price of $134.66 and a two-hundred day moving average price of $131.56.

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.