NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Increased by Forsta AP Fonden

Forsta AP Fonden raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 828.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,159,000 shares of the computer hardware maker’s stock after purchasing an additional 5,495,300 shares during the quarter. NVIDIA comprises about 6.7% of Forsta AP Fonden’s investment portfolio, making the stock its 2nd biggest position. Forsta AP Fonden’s holdings in NVIDIA were worth $760,883,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Scarborough Advisors LLC raised its holdings in shares of NVIDIA by 4.3% in the 4th quarter. Scarborough Advisors LLC now owns 1,873 shares of the computer hardware maker’s stock valued at $928,000 after buying an additional 77 shares during the period. Greenwood Capital Associates LLC grew its position in NVIDIA by 10.2% in the 4th quarter. Greenwood Capital Associates LLC now owns 1,057 shares of the computer hardware maker’s stock valued at $523,000 after acquiring an additional 98 shares in the last quarter. Gerber LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth about $1,478,000. Fisher Asset Management LLC lifted its position in shares of NVIDIA by 7.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,941,935 shares of the computer hardware maker’s stock worth $4,428,225,000 after purchasing an additional 592,199 shares in the last quarter. Finally, Alamar Capital Management LLC boosted its stake in shares of NVIDIA by 15.7% in the fourth quarter. Alamar Capital Management LLC now owns 597 shares of the computer hardware maker’s stock valued at $296,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NVDA. The Goldman Sachs Group increased their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday. Craig Hallum increased their price objective on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Bank of America reissued a “buy” rating and set a $165.00 target price on shares of NVIDIA in a research note on Thursday, September 5th. Sanford C. Bernstein boosted their price objective on NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird raised their target price on shares of NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven 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 price target of $142.46.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,236,270 shares of company stock valued at $376,316,727 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 2.4 %

Shares of NVDA opened at $138.07 on Tuesday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 80.74, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $119.30 and its 200 day simple moving average is $111.23.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same period last year, the business posted $0.25 EPS. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders 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 yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.