NVIDIA Co. (NASDAQ:NVDA) is Skandinaviska Enskilda Banken AB publ’s 2nd Largest Position

Skandinaviska Enskilda Banken AB publ grew its position in NVIDIA Co. (NASDAQ:NVDA) by 776.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,585,620 shares of the computer hardware maker’s stock after acquiring an additional 10,264,069 shares during the quarter. NVIDIA comprises 6.8% of Skandinaviska Enskilda Banken AB publ’s holdings, making the stock its 2nd largest position. Skandinaviska Enskilda Banken AB publ’s holdings in NVIDIA were worth $1,430,474,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Range Financial Group LLC grew its stake in NVIDIA by 3.3% during the 1st quarter. Range Financial Group LLC now owns 5,567 shares of the computer hardware maker’s stock valued at $5,030,000 after acquiring an additional 180 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of NVIDIA during the 1st quarter worth approximately $4,826,280,000. Harbor Investment Advisory LLC grew its position in shares of NVIDIA by 28.1% in the first quarter. Harbor Investment Advisory LLC now owns 6,728 shares of the computer hardware maker’s stock valued at $6,079,000 after purchasing an additional 1,477 shares in the last quarter. Ignite Planners LLC increased its holdings in shares of NVIDIA by 4.8% in the first quarter. Ignite Planners LLC now owns 9,621 shares of the computer hardware maker’s stock valued at $8,693,000 after purchasing an additional 442 shares during the last quarter. Finally, Whitaker Myers Wealth Managers LTD. increased its holdings in shares of NVIDIA by 26.1% in the first quarter. Whitaker Myers Wealth Managers LTD. now owns 1,953 shares of the computer hardware maker’s stock valued at $1,764,000 after purchasing an additional 404 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVDA has been the subject of several analyst reports. Truist Financial upped their target price on NVIDIA from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research report on Monday, August 5th. Bank of America boosted their target price on shares of NVIDIA from $165.00 to $190.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, KeyCorp lifted their price target on shares of NVIDIA from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.07.

Insiders Place Their Bets

In other 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 value of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were 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 of the company’s stock, valued at $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,636,270 shares of company stock valued at $305,367,927. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

Shares of NVDA opened at $140.41 on Friday. 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 firm’s fifty day simple moving average is $123.56 and its 200-day simple moving average is $113.50. The firm has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 65.86, a PEG ratio of 1.52 and a beta of 1.67. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42.

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

NVIDIA Cuts Dividend

The business 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. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.88%.

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

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.