NVIDIA Co. (NASDAQ:NVDA) Holdings Raised by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 911.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 957,780 shares of the computer hardware maker’s stock after purchasing an additional 863,088 shares during the quarter. NVIDIA makes up 4.8% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 2nd biggest holding. Meiji Yasuda Asset Management Co Ltd.’s holdings in NVIDIA were worth $118,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of NVDA. Meyer Handelman Co. increased its holdings in shares of NVIDIA by 1.9% in the 1st quarter. Meyer Handelman Co. now owns 13,542 shares of the computer hardware maker’s stock valued at $12,236,000 after acquiring an additional 257 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of NVIDIA by 1.1% in the 1st quarter. Gulf International Bank UK Ltd now owns 219,456 shares of the computer hardware maker’s stock valued at $198,291,000 after acquiring an additional 2,465 shares during the last quarter. Bennett Selby Investments LP purchased a new position in shares of NVIDIA in the 1st quarter valued at about $827,000. Executive Wealth Group LLC purchased a new position in shares of NVIDIA in the 1st quarter valued at about $212,000. Finally, Hummer Financial Advisory Services Inc purchased a new position in shares of NVIDIA in the 1st quarter valued at about $361,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NVDA shares. Benchmark reiterated a “buy” rating and issued a $170.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Truist Financial raised their price target on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Robert W. Baird raised their price target on NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Loop Capital restated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Finally, Jefferies Financial Group raised their price target on NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Stock Performance

NASDAQ NVDA opened at $143.71 on Tuesday. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $143.71. The company has a market capitalization of $3.53 trillion, a P/E ratio of 67.41, a PEG ratio of 1.25 and a beta of 1.67. The business has a 50 day moving average price of $122.58 and a 200 day moving average price of $112.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Friday, July 26th. The stock was sold at an average price of $113.54, for a total value of $13,624,800.00. Following the completion of the sale, the chief executive officer now owns 77,814,995 shares of the company’s stock, valued at $8,835,114,532.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,876,270 shares of company stock valued at $333,061,527. Corporate 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.