NVIDIA Co. (NASDAQ:NVDA) is Sumitomo Life Insurance Co.’s 8th Largest Position

Sumitomo Life Insurance Co. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 546,348 shares of the computer hardware maker’s stock after buying an additional 29,127 shares during the quarter. NVIDIA accounts for 1.4% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 8th largest position. Sumitomo Life Insurance Co.’s holdings in NVIDIA were worth $73,369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the third quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA during the second quarter worth $31,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the fourth quarter worth $34,000. West Financial Advisors LLC acquired a new position in NVIDIA during the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent research reports. Melius Research boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Phillip Securities reissued an “accumulate” rating and set a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. UBS Group boosted their price objective on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. DA Davidson lifted their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, HSBC reduced their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.21.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 4.1 %

Shares of NASDAQ NVDA opened at $134.35 on Friday. 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 52-week low of $74.22 and a 52-week high of $153.13. The firm has a 50 day moving average price of $134.66 and a two-hundred day moving average price of $131.33. The stock has a market cap of $3.29 trillion, a P/E ratio of 52.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during 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 quarterly revenue was up 93.6% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. As a group, equities analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

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.