AIA Group Ltd Has $47.46 Million Position in NVIDIA Co. (NASDAQ:NVDA)

AIA Group Ltd trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 390,815 shares of the computer hardware maker’s stock after selling 39,668 shares during the period. NVIDIA accounts for approximately 1.2% of AIA Group Ltd’s holdings, making the stock its 19th largest position. AIA Group Ltd’s holdings in NVIDIA were worth $47,461,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NVDA. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the third quarter valued at $27,000. CGC Financial Services LLC bought a new stake in NVIDIA in the 2nd quarter valued at $26,000. Quest Partners LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA during the 2nd quarter valued at about $31,000. Finally, FPC Investment Advisory Inc. increased its stake in NVIDIA by 900.0% in the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after acquiring an additional 261 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the company’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 completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 40,000 shares of NVIDIA stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the transaction, the director now owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,556,986 shares of company stock valued at $201,687,727 in the last 90 days. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $134.70 on Monday. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The company has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.01, a PEG ratio of 2.43 and a beta of 1.63. The firm’s fifty day moving average is $139.63 and its 200 day moving average is $127.32. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. Sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

Analyst Ratings Changes

Several research firms recently commented on NVDA. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Mizuho lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Susquehanna upped their target price on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Wedbush lifted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Evercore ISI boosted their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.