KLP Kapitalforvaltning AS Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

KLP Kapitalforvaltning AS acquired a new position in NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,132,260 shares of the computer hardware maker’s stock, valued at approximately $1,226,371,000. NVIDIA makes up about 5.8% of KLP Kapitalforvaltning AS’s investment portfolio, making the stock its 2nd largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the 4th quarter worth about $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the 4th quarter worth about $34,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the fourth quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA in the fourth quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $111.01 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. The firm has a market cap of $2.71 trillion, a P/E ratio of 43.69, a P/E/G ratio of 1.76 and a beta of 1.96. The firm’s 50 day moving average price is $113.21 and its 200-day moving average price is $129.01. NVIDIA Co. has a one year low of $81.25 and a one year high of $195.95.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. As a group, equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVDA. Susquehanna reiterated a “positive” rating and set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Summit Insights downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. DA Davidson decreased their price target on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, UBS Group reiterated a “buy” rating on shares of NVIDIA in a report on Friday. Six equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $164.96.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,147 shares of company stock valued at $17,133,207. 4.23% 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.