NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,785,874 shares of the computer hardware maker's stock after purchasing an additional 86,608 shares during the period. NVIDIA makes up about 5.9% of Perigon Wealth Management LLC's holdings, making the stock its 2nd largest holding. Perigon Wealth Management LLC's holdings in NVIDIA were worth $238,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA during the 2nd quarter valued at $31,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the 4th quarter valued at $34,000. West Financial Advisors LLC acquired a new stake in NVIDIA in the 3rd quarter valued at $36,000. Finally, DHJJ Financial Advisors Ltd. increased 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 purchasing an additional 140 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Down 4.1 %

NASDAQ NVDA opened at $134.35 on Friday. 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 company has a market capitalization of $3.29 trillion, a P/E ratio of 52.87, a P/E/G ratio of 1.75 and a beta of 1.62. NVIDIA Co. has a one year low of $74.22 and a one year high of $153.13. The stock has a 50 day moving average price of $134.66 and a 200-day moving average price of $131.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 analyst estimates of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. NVIDIA's quarterly revenue was up 93.6% compared to the same quarter last year. As a group, equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NVDA shares. Truist Financial raised their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of NVIDIA from $115.00 to $140.00 and gave the stock a "hold" rating in a report on Thursday, November 21st. Robert W. Baird lifted their price target on NVIDIA from $150.00 to $190.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Finally, Melius Research raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, November 11th. 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $168.21.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company's stock.

About NVIDIA

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.

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