NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 44.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,969,500 shares of the computer hardware maker’s stock after buying an additional 1,218,500 shares during the quarter. NVIDIA comprises approximately 2.7% of Alecta Tjanstepension Omsesidigt’s portfolio, making the stock its 11th largest position. Alecta Tjanstepension Omsesidigt’s holdings in NVIDIA were worth $482,255,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the second quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the last quarter. FPC Investment Advisory Inc. purchased a new position in shares of NVIDIA in the 1st quarter valued at about $26,000. CGC Financial Services LLC purchased a new position in NVIDIA during the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA during the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NVDA shares. HSBC raised their price target on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 14th. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday. Craig Hallum boosted their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday. Four investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

NVDA opened at $141.95 on Monday. The stock has a fifty day moving average of $134.01 and a 200-day moving average of $122.51. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

NVIDIA Announces Dividend

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 paid 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 of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock valued at $254,784,327 over the last three months. 4.23% of the stock is currently owned by 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.