NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,651 shares of the computer hardware maker’s stock after acquiring an additional 4,914 shares during the quarter. NVIDIA makes up 0.8% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 13th biggest holding. Sumitomo Life Insurance Co.’s holdings in NVIDIA were worth $26,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its position in shares of NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Vanguard Group Inc. grew its position in shares of NVIDIA by 1.1% in the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after purchasing an additional 2,287,471 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the third quarter valued at $728,543,000. California Public Employees Retirement System grew its position in shares of NVIDIA by 31.0% in the third quarter. California Public Employees Retirement System now owns 5,671,622 shares of the computer hardware maker’s stock valued at $2,467,099,000 after purchasing an additional 1,342,875 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of NVIDIA by 99.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock valued at $1,037,437,000 after purchasing an additional 1,189,495 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 4.4 %

Shares of NVIDIA stock opened at $795.18 on Tuesday. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $846.17 and its 200-day simple moving average is $627.28. The stock has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 66.60, a PEG ratio of 1.09 and a beta of 1.73. NVIDIA Co. has a twelve month low of $262.25 and a twelve month high of $974.00.

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

NVIDIA Dividend Announcement

The firm also recently disclosed 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 yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is 1.34%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NVDA. Loop Capital began coverage on NVIDIA in a research report on Friday, February 16th. They issued a “buy” rating and a $1,200.00 price objective for the company. Citigroup boosted their price target on NVIDIA from $820.00 to $1,030.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Argus boosted their price target on NVIDIA from $850.00 to $950.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. KeyCorp boosted their price target on NVIDIA from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Mizuho boosted their price target on NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $940.30.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the transaction, the director now directly owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the transaction, the director now directly owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock valued at $52,689,898 in the last three months. 3.99% of the stock is currently owned by corporate insiders.

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.