NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by AMF Tjanstepension AB

AMF Tjanstepension AB boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,039,712 shares of the computer hardware maker’s stock after purchasing an additional 169,445 shares during the period. NVIDIA makes up 7.0% of AMF Tjanstepension AB’s portfolio, making the stock its 2nd biggest position. AMF Tjanstepension AB’s holdings in NVIDIA were worth $976,348,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. DBK Financial Counsel LLC grew its holdings in NVIDIA by 16.6% during the 3rd quarter. DBK Financial Counsel LLC now owns 14,028 shares of the computer hardware maker’s stock valued at $1,704,000 after purchasing an additional 2,000 shares in the last quarter. Boltwood Capital Management boosted its stake in NVIDIA by 1.6% during the 3rd quarter. Boltwood Capital Management now owns 46,000 shares of the computer hardware maker’s stock valued at $5,586,000 after acquiring an additional 725 shares during the last quarter. JLB & Associates Inc. bought a new position in NVIDIA during the 3rd quarter valued at $233,000. First Community Trust NA boosted its stake in NVIDIA by 26.4% during the 3rd quarter. First Community Trust NA now owns 48,989 shares of the computer hardware maker’s stock valued at $5,949,000 after acquiring an additional 10,219 shares during the last quarter. Finally, Mid American Wealth Advisory Group Inc. boosted its stake in NVIDIA by 5.2% during the 3rd quarter. Mid American Wealth Advisory Group Inc. now owns 2,266 shares of the computer hardware maker’s stock valued at $275,000 after acquiring an additional 112 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVDA opened at $134.25 on Friday. The firm’s 50 day moving average is $139.76 and its 200-day moving average is $126.60. The stock has a market capitalization of $3.29 trillion, a P/E ratio of 52.85, a P/E/G ratio of 2.52 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced 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. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. Equities research analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a $0.01 dividend. 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 1.57%.

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

Analysts Set New Price Targets

A number of research firms have commented on NVDA. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Benchmark increased their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Piper Sandler increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Morgan Stanley raised their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, DA Davidson raised their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Four 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’s stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,628,156 shares of company stock worth $197,995,077 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

NVIDIA 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.