Varma Mutual Pension Insurance Co Acquires 4,483,448 Shares of NVIDIA Co. (NASDAQ:NVDA)

Varma Mutual Pension Insurance Co lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 970.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,945,416 shares of the computer hardware maker’s stock after purchasing an additional 4,483,448 shares during the quarter. NVIDIA comprises about 4.9% of Varma Mutual Pension Insurance Co’s holdings, making the stock its 2nd largest holding. Varma Mutual Pension Insurance Co’s holdings in NVIDIA were worth $610,957,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the second quarter valued at $25,000. DHJJ Financial Advisors Ltd. grew its holdings in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA during the 1st quarter worth about $26,000. CGC Financial Services LLC purchased a new stake in NVIDIA in the 2nd quarter valued at about $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter worth about $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $128.92, for a total value of $15,470,400.00. Following the sale, the chief executive officer now owns 78,894,995 shares of the company’s stock, valued at approximately $10,171,142,755.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,201,270 shares of company stock worth $371,285,277 over the last ninety days. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NVDA shares. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Evercore ISI lifted their target price on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Tigress Financial lifted their price objective on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a report on Monday, August 26th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Price Performance

NVDA stock opened at $134.81 on Friday. The business has a 50 day simple moving average of $117.48 and a 200-day simple moving average of $110.17. The company has a market capitalization of $3.32 trillion, a P/E ratio of 78.84, a PEG ratio of 1.05 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA announced that its Board of Directors has approved a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.