Nippon Life Global Investors Americas Inc. Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Nippon Life Global Investors Americas Inc. decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,243,820 shares of the computer hardware maker’s stock after selling 139,580 shares during the quarter. NVIDIA accounts for 7.7% of Nippon Life Global Investors Americas Inc.’s portfolio, making the stock its biggest holding. Nippon Life Global Investors Americas Inc.’s holdings in NVIDIA were worth $167,033,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new position in NVIDIA during the 4th quarter valued at $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the 4th quarter valued at $34,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the 4th quarter valued at $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA during the 4th quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the 4th quarter valued at $46,000. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research analyst reports. Raymond James reaffirmed a “strong-buy” rating on shares of NVIDIA in a research report on Wednesday, April 16th. Susquehanna reaffirmed a “positive” rating and set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. UBS Group decreased their target price on NVIDIA from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Finally, DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $164.84.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This trade represents a 13.35% decrease in their ownership of the stock. 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 ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.4%

Shares of NVIDIA stock opened at $135.40 on Friday. The firm has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.29, a PEG ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. 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 stock has a 50 day moving average of $112.33 and a 200 day moving average of $126.97.

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, research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.36%.

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.