Zurich Insurance Group Ltd FI Sells 160,852 Shares of NVIDIA Co. (NASDAQ:NVDA)

Zurich Insurance Group Ltd FI cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,331,938 shares of the computer hardware maker’s stock after selling 160,852 shares during the period. NVIDIA comprises about 5.5% of Zurich Insurance Group Ltd FI’s holdings, making the stock its 3rd biggest holding. Zurich Insurance Group Ltd FI’s holdings in NVIDIA were worth $647,511,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVDA. Hoertkorn Richard Charles increased its stake in NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after acquiring an additional 70 shares during the last quarter. Smart Portfolios LLC grew its holdings in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the period. Palisade Asset Management LLC grew its holdings in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the period. Total Wealth Planning LLC increased its position in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after purchasing an additional 78 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH raised its holdings in NVIDIA by 0.3% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after buying an additional 80 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $137.71 on Friday. The stock’s 50-day moving average is $138.99 and its two-hundred day moving average is $129.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 1 year low of $56.11 and a 1 year high of $153.13. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 54.20, a PEG ratio of 2.45 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $33.15 billion. During the same quarter last year, the business posted $0.38 EPS. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Buying and Selling

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, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % 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, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last 90 days. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVDA shares. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price target (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Wells Fargo & Company lifted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Truist Financial boosted their target price on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Raymond James raised their price target on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Finally, HSBC cut their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $164.63.

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.