Varma Mutual Pension Insurance Co Has $610.96 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Varma Mutual Pension Insurance Co increased its position in NVIDIA Co. (NASDAQ:NVDA) by 970.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,945,416 shares of the computer hardware maker’s stock after purchasing an additional 4,483,448 shares during the quarter. NVIDIA makes up 4.9% of Varma Mutual Pension Insurance Co’s portfolio, making the stock its 2nd largest holding. Varma Mutual Pension Insurance Co’s holdings in NVIDIA were worth $610,957,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. bought a new stake in NVIDIA in the first quarter valued at about $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the first quarter valued at approximately $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of several research reports. The Goldman Sachs Group restated a “buy” rating and issued a $135.00 target price on shares of NVIDIA in a research note on Monday, August 19th. Evercore ISI lifted their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. StockNews.com cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 18th. Westpark Capital lifted their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group upped their price objective on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $142.10.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $134.81 on Friday. The stock has a fifty day moving average of $117.48 and a 200-day moving average of $110.17. NVIDIA Co. has a fifty-two week low of $39.23 and a fifty-two week high of $140.76. The stock has a market cap of $3.32 trillion, a PE ratio of 78.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Equities research analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

NVIDIA declared that its board has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $128.92, for a total value of $15,470,400.00. Following the completion of the sale, the chief executive officer now directly owns 78,894,995 shares in the company, valued at $10,171,142,755.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $128.92, for a total transaction of $15,470,400.00. Following the transaction, the chief executive officer now owns 78,894,995 shares in the company, valued at $10,171,142,755.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,201,270 shares of company stock valued at $371,285,277. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Company 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.