Dai ichi Life Insurance Company Ltd Acquires 1,835,135 Shares of NVIDIA Co. (NASDAQ:NVDA)

Dai ichi Life Insurance Company Ltd increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 807.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,062,544 shares of the computer hardware maker’s stock after buying an additional 1,835,135 shares during the period. NVIDIA accounts for 6.2% of Dai ichi Life Insurance Company Ltd’s holdings, making the stock its biggest holding. Dai ichi Life Insurance Company Ltd’s holdings in NVIDIA were worth $254,807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hamilton Wealth LLC increased its stake in shares of NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock worth $2,839,000 after acquiring an additional 9 shares in the last quarter. Brooklyn FI LLC increased its stake in NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares in the last quarter. Curran Financial Partners LLC increased its stake in NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC increased its stake in NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock valued at $428,000 after purchasing an additional 12 shares in the last quarter. Finally, M. Kraus & Co grew its stake in shares of NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after acquiring an additional 13 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 3.1 %

NVDA opened at $135.72 on Thursday. The business’s fifty day simple moving average is $120.58 and its 200 day simple moving average is $111.69. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The firm has a market cap of $3.34 trillion, a P/E ratio of 79.37, a PEG ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (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 firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 122.4% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a share buyback 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 often a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s payout ratio is 2.34%.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,116,270 shares of company stock worth $362,016,327 in the last three months. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Needham & Company LLC lifted their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Evercore ISI lifted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Melius Research lifted their price target on shares of NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, June 21st. Finally, Craig Hallum lifted their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.46.

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.