Avanza Fonder AB Buys Shares of 2,376,492 NVIDIA Co. (NASDAQ:NVDA)

Avanza Fonder AB purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,376,492 shares of the computer hardware maker’s stock, valued at approximately $319,139,000. NVIDIA accounts for approximately 9.6% of Avanza Fonder AB’s investment portfolio, making the stock its 2nd biggest position.

A number of other institutional investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA during the 3rd quarter worth approximately $27,000. Quest Partners LLC acquired a new stake in NVIDIA in the 2nd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA in the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA during the 4th quarter worth $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of NVIDIA in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $118.65 on Wednesday. The stock has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 46.69, a PEG ratio of 2.16 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business’s fifty day moving average price is $136.19 and its 200-day moving average price is $129.38. NVIDIA Co. has a 1-year low of $66.25 and a 1-year high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. On average, equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

Insiders Place Their Bets

In related news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 over the last ninety days. 4.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NVDA shares. TD Cowen increased their target price on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. HSBC dropped their target price on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Bank of America restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Needham & Company LLC boosted their target price on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $166.23.

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.