Factory Mutual Insurance Co. Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Factory Mutual Insurance Co. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,106,048 shares of the computer hardware maker’s stock after buying an additional 85,048 shares during the quarter. NVIDIA comprises approximately 3.9% of Factory Mutual Insurance Co.’s portfolio, making the stock its 5th biggest position. Factory Mutual Insurance Co.’s holdings in NVIDIA were worth $377,198,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Shira Ridge Wealth Management raised its holdings in NVIDIA by 1.9% in the 3rd quarter. Shira Ridge Wealth Management now owns 5,416 shares of the computer hardware maker’s stock worth $658,000 after acquiring an additional 100 shares during the last quarter. Renaissance Investment Group LLC lifted its stake in shares of NVIDIA by 2.3% in the 3rd quarter. Renaissance Investment Group LLC now owns 84,529 shares of the computer hardware maker’s stock worth $10,265,000 after purchasing an additional 1,874 shares during the period. Hart & Patterson Financial Group LLC grew its position in shares of NVIDIA by 6.4% during the 3rd quarter. Hart & Patterson Financial Group LLC now owns 3,596 shares of the computer hardware maker’s stock valued at $437,000 after acquiring an additional 216 shares during the period. Shaker Investments LLC OH increased its stake in shares of NVIDIA by 7.9% in the 3rd quarter. Shaker Investments LLC OH now owns 66,949 shares of the computer hardware maker’s stock worth $8,130,000 after purchasing an additional 4,881 shares in the last quarter. Finally, Ballew Advisors Inc raised its holdings in NVIDIA by 4.7% in the 3rd quarter. Ballew Advisors Inc now owns 3,775 shares of the computer hardware maker’s stock worth $501,000 after purchasing an additional 171 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVDA stock opened at $141.98 on Friday. The company’s 50-day simple moving average is $130.18 and its two-hundred day simple moving average is $119.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a one year low of $45.01 and a one year high of $149.77. The company has a market capitalization of $3.48 trillion, a P/E ratio of 66.66, a P/E/G ratio of 1.54 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

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

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now owns 76,375,705 shares in the company, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction 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 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock valued at $254,784,327 over the last ninety days. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Robert W. Baird lifted their target price on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Sanford C. Bernstein upped their price target on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Monday, August 26th. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $152.40.

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.