NVIDIA Co. (NASDAQ:NVDA) is Sumitomo Mitsui Trust Holdings Inc.’s 4th Largest Position

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,027,071 shares of the computer hardware maker’s stock after selling 253,343 shares during the quarter. NVIDIA comprises approximately 2.6% of Sumitomo Mitsui Trust Holdings Inc.’s holdings, making the stock its 4th largest position. Sumitomo Mitsui Trust Holdings Inc. owned 0.28% of NVIDIA worth $3,479,946,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Sumitomo Life Insurance Co. boosted its position in shares of NVIDIA by 10.3% in the 4th quarter. Sumitomo Life Insurance Co. now owns 52,651 shares of the computer hardware maker’s stock worth $26,074,000 after purchasing an additional 4,914 shares in the last quarter. Viewpoint Capital Management LLC boosted its position in shares of NVIDIA by 0.4% in the 4th quarter. Viewpoint Capital Management LLC now owns 6,994 shares of the computer hardware maker’s stock worth $3,464,000 after purchasing an additional 30 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $2,182,000. Nottingham Advisors Inc. bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $215,000. Finally, Aire Advisors LLC boosted its position in shares of NVIDIA by 11.0% in the 4th quarter. Aire Advisors LLC now owns 4,292 shares of the computer hardware maker’s stock worth $2,129,000 after purchasing an additional 427 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVDA. Oppenheimer upped their price objective on NVIDIA from $850.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. UBS Group upped their price objective on NVIDIA from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. upped their price objective on NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,100.00 price objective on shares of NVIDIA in a research report on Tuesday, February 20th. Finally, Bank of America upped their price objective on NVIDIA from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $940.30.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,278 shares of company stock valued at $52,689,898. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Up 4.4 %

NVDA opened at $795.18 on Tuesday. The firm has a 50-day simple moving average of $846.17 and a two-hundred day simple moving average of $627.28. NVIDIA Co. has a 52 week low of $262.25 and a 52 week high of $974.00. The company has a market capitalization of $1.99 trillion, a PE ratio of 66.60, a price-to-earnings-growth ratio of 1.09 and a beta of 1.73. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s revenue was up 265.3% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

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.