NVIDIA Co. (NASDAQ:NVDA) is Livforsakringsbolaget Skandia Omsesidigt’s 2nd Largest Position

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 44.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,021,599 shares of the computer hardware maker’s stock after purchasing an additional 314,679 shares during the quarter. NVIDIA accounts for approximately 6.6% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 2nd largest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in NVIDIA were worth $124,069,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FPC Investment Advisory Inc. purchased a new position in NVIDIA during the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the first quarter worth $27,000. HBC Financial Services PLLC purchased a new position in NVIDIA during the first quarter worth $30,000. TCTC Holdings LLC purchased a new position in NVIDIA during the first quarter worth $82,000. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of NVIDIA during the first quarter valued at $98,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVDA stock opened at $146.27 on Thursday. The stock’s 50-day simple moving average is $128.59 and its 200-day simple moving average is $119.33. The firm has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 68.61, a PEG ratio of 1.56 and a beta of 1.66. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. As a group, equities analysts forecast that NVIDIA Co. will post 2.66 earnings per share for the current fiscal year.

NVIDIA announced that its board has approved a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at $9,105,199,254.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares in the company, valued at approximately $9,105,199,254.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last quarter. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVDA. Bank of America boosted their target price on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, October 18th. HSBC boosted their target price on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Craig Hallum boosted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. DA Davidson reissued a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Morgan Stanley boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.48.

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.