CANADA LIFE ASSURANCE Co Grows Position in NVIDIA Co. (NASDAQ:NVDA)

CANADA LIFE ASSURANCE Co increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,648,521 shares of the computer hardware maker’s stock after acquiring an additional 462,234 shares during the quarter. NVIDIA comprises approximately 5.2% of CANADA LIFE ASSURANCE Co’s holdings, making the stock its 3rd largest holding. CANADA LIFE ASSURANCE Co owned 0.09% of NVIDIA worth $3,037,894,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC lifted its position in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter valued at about $43,515,504,000. Charles Schwab Investment Management Inc. increased its stake in NVIDIA by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 151,280,130 shares of the computer hardware maker’s stock worth $20,315,409,000 after purchasing an additional 5,211,040 shares in the last quarter. Finally, Invesco Ltd. increased its stake in NVIDIA by 7.6% during the 4th quarter. Invesco Ltd. now owns 129,889,317 shares of the computer hardware maker’s stock worth $17,442,836,000 after purchasing an additional 9,168,168 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 over the last three months. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Mizuho lowered their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. Finally, Barclays cut their price target on NVIDIA from $175.00 to $155.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.84.

NVIDIA Stock Performance

NASDAQ NVDA opened at $134.83 on Friday. The business has a 50-day moving average price of $111.80 and a 200-day moving average price of $127.10. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The firm has a market cap of $3.30 trillion, a price-to-earnings ratio of 53.06, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. 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 announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating 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 company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. As a group, equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

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.