National Pension Service Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

National Pension Service boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 14.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,220,708 shares of the computer hardware maker’s stock after buying an additional 6,118,674 shares during the quarter. NVIDIA makes up 5.5% of National Pension Service’s portfolio, making the stock its 2nd largest position. National Pension Service owned 0.19% of NVIDIA worth $5,734,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Lantz Financial LLC boosted its position in shares of NVIDIA by 833.1% in the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after purchasing an additional 36,774 shares in the last quarter. Tilia Fiduciary Partners Inc. boosted its stake in NVIDIA by 832.0% in the 2nd quarter. Tilia Fiduciary Partners Inc. now owns 5,266 shares of the computer hardware maker’s stock worth $651,000 after purchasing an additional 4,701 shares in the last quarter. Twele Capital Management Inc. grew its position in NVIDIA by 566.8% during the 2nd quarter. Twele Capital Management Inc. now owns 2,667 shares of the computer hardware maker’s stock worth $330,000 after purchasing an additional 2,267 shares during the last quarter. jvl associates llc increased its stake in NVIDIA by 897.8% during the 2nd quarter. jvl associates llc now owns 9,130 shares of the computer hardware maker’s stock valued at $1,128,000 after purchasing an additional 8,215 shares in the last quarter. Finally, Amarillo National Bank lifted its stake in shares of NVIDIA by 973.1% during the second quarter. Amarillo National Bank now owns 9,164 shares of the computer hardware maker’s stock worth $1,132,000 after buying an additional 8,310 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group upped their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Monday, November 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Oppenheimer reiterated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, DA Davidson boosted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Down 1.2 %

Shares of NVIDIA stock opened at $130.39 on Wednesday. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The company has a 50 day moving average of $139.79 and a 200 day moving average of $127.07. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.19 trillion, a P/E ratio of 51.33, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating 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 firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at NVIDIA

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

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.