NVIDIA Co. (NASDAQ:NVDA) is Parsons Capital Management Inc. RI's 7th Largest Position

Parsons Capital Management Inc. RI grew its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 64.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,831 shares of the computer hardware maker's stock after acquiring an additional 107,727 shares during the period. NVIDIA comprises about 2.0% of Parsons Capital Management Inc. RI's investment portfolio, making the stock its 7th biggest position. Parsons Capital Management Inc. RI's holdings in NVIDIA were worth $36,773,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new stake in NVIDIA in the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA during the second quarter valued at about $31,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the fourth quarter worth about $34,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA in the third quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker's stock valued at $41,000 after buying an additional 140 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Down 4.1 %

Shares of NASDAQ NVDA traded down $5.76 during mid-day trading on Friday, reaching $134.35. 226,998,737 shares of the company were exchanged, compared to its average volume of 265,515,719. NVIDIA Co. has a 1 year low of $74.22 and a 1 year high of $153.13. The firm has a 50-day moving average of $134.66 and a 200 day moving average of $130.91. The stock has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.87, a P/E/G ratio of 1.75 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.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company's quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. On average, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 716 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company's stock, valued at $2,831,764. This represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm'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 completion of the sale, the director now directly owns 28,671,360 shares of the company's stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NVDA shares. Susquehanna lifted their price objective on NVIDIA from $160.00 to $180.00 and gave the stock a "positive" rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a "hold" rating in a research report on Thursday, November 21st. Morgan Stanley lowered their price objective on shares of NVIDIA from $166.00 to $152.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Barclays boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, Bank of America reaffirmed a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Four investment 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 company. According to MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.21.

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.