Mitsubishi UFJ Asset Management UK Ltd. Buys 18,000 Shares of NVIDIA Co. (NASDAQ:NVDA)

Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 40.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,000 shares of the computer hardware maker’s stock after purchasing an additional 18,000 shares during the quarter. NVIDIA accounts for about 3.9% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 3rd biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in NVIDIA were worth $7,529,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Alecta Tjanstepension Omsesidigt raised its position in shares of NVIDIA by 44.3% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 3,969,500 shares of the computer hardware maker’s stock worth $482,255,000 after purchasing an additional 1,218,500 shares during the last quarter. Legacy Financial Strategies LLC boosted its position in NVIDIA by 13.0% during the 3rd quarter. Legacy Financial Strategies LLC now owns 41,263 shares of the computer hardware maker’s stock worth $5,011,000 after purchasing an additional 4,751 shares during the period. ST Germain D J Co. Inc. boosted its position in NVIDIA by 1.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 18,501 shares of the computer hardware maker’s stock valued at $2,247,000 after buying an additional 181 shares during the last quarter. Continuum Wealth Advisors LLC lifted its position in shares of NVIDIA by 70.6% during the third quarter. Continuum Wealth Advisors LLC now owns 3,787 shares of the computer hardware maker’s stock worth $460,000 after purchasing an additional 1,567 shares during the last quarter. Finally, Schubert & Co bought a new position in shares of NVIDIA during the third quarter worth about $410,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Sandler increased their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Westpark Capital raised their price target on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Craig Hallum lifted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 completion of the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 14.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the completion of the transaction, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of NVDA opened at $141.95 on Monday. The business’s 50-day moving average is $134.01 and its two-hundred day moving average is $122.51. The company has a market capitalization of $3.48 trillion, a P/E ratio of 55.89, a P/E/G ratio of 1.53 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.79 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $45.01 and a fifty-two week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the firm posted $0.38 EPS. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 2.68 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board 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.