Sumitomo Life Insurance Co. decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,737 shares of the computer hardware maker’s stock after selling 3,265 shares during the quarter. NVIDIA makes up about 0.6% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 15th biggest holding. Sumitomo Life Insurance Co.’s holdings in NVIDIA were worth $20,765,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. Peoples Financial Services CORP. acquired a new stake in NVIDIA in the third quarter valued at $30,000. Marquette Asset Management LLC acquired a new stake in NVIDIA in the second quarter valued at $34,000. Quarry LP acquired a new stake in NVIDIA in the first quarter valued at $34,000. Compass Wealth Management LLC acquired a new stake in NVIDIA in the fourth quarter valued at $39,000. Finally, MRP Capital Investments LLC acquired a new stake in NVIDIA in the second quarter valued at $42,000. Institutional investors and hedge funds own 64.79% of the company’s stock.
NVIDIA Price Performance
NVDA stock opened at $490.97 on Monday. The firm has a market cap of $1.21 trillion, a P/E ratio of 64.77, a P/E/G ratio of 3.29 and a beta of 1.64. The company has a quick ratio of 3.06, a current ratio of 3.59 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $476.28 and its two-hundred day moving average price is $455.28. NVIDIA Co. has a 12 month low of $140.34 and a 12 month high of $505.48.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings results on Tuesday, November 21st. The computer hardware maker reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.03 by $0.99. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $16.19 billion. NVIDIA had a net margin of 42.10% and a return on equity of 72.28%. The firm’s revenue was up 205.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. On average, analysts anticipate that NVIDIA Co. will post 11.06 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 6th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Tuesday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 2.11%.
Insider Activity at NVIDIA
In related news, Director Dawn E. Hudson sold 1,000 shares of NVIDIA stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $492.52, for a total transaction of $492,520.00. Following the sale, the director now directly owns 70,500 shares of the company’s stock, valued at approximately $34,722,660. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Dawn E. Hudson sold 1,000 shares of NVIDIA stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $492.52, for a total transaction of $492,520.00. Following the sale, the director now directly owns 70,500 shares in the company, valued at approximately $34,722,660. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Debora Shoquist sold 20,000 shares of NVIDIA stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $481.85, for a total transaction of $9,637,000.00. Following the sale, the executive vice president now owns 109,860 shares in the company, valued at $52,936,041. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,442 shares of company stock valued at $37,710,302. 3.99% of the stock is owned by insiders.
Analyst Ratings Changes
A number of analysts have commented on NVDA shares. Truist Financial increased their price target on shares of NVIDIA from $668.00 to $674.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. TD Cowen raised their target price on shares of NVIDIA from $600.00 to $700.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 11th. Benchmark restated a “buy” rating and set a $625.00 target price on shares of NVIDIA in a research note on Wednesday, November 22nd. StockNews.com began coverage on shares of NVIDIA in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group raised their target price on shares of NVIDIA from $605.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $593.26.
Check Out Our Latest Stock Analysis on NVIDIA
About NVIDIA
NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company’s 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.
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