Mandatum Life Insurance Co Ltd Has $1.96 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Mandatum Life Insurance Co Ltd grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 712.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,852 shares of the computer hardware maker’s stock after acquiring an additional 13,901 shares during the quarter. Mandatum Life Insurance Co Ltd’s holdings in NVIDIA were worth $1,958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Triodos Investment Management BV raised its holdings in shares of NVIDIA by 666.0% in the second quarter. Triodos Investment Management BV now owns 590,770 shares of the computer hardware maker’s stock valued at $72,984,000 after purchasing an additional 513,643 shares during the last quarter. Hudson Canyon Capital Management boosted its position in NVIDIA by 758.2% during the second quarter. Hudson Canyon Capital Management now owns 112,000 shares of the computer hardware maker’s stock worth $13,836,000 after purchasing an additional 98,950 shares during the period. Game Plan Financial Advisors LLC lifted its position in shares of NVIDIA by 900.3% during the second quarter. Game Plan Financial Advisors LLC now owns 67,980 shares of the computer hardware maker’s stock worth $8,398,000 after acquiring an additional 61,184 shares in the last quarter. Squire Investment Management Company LLC boosted its stake in NVIDIA by 700.3% in the 2nd quarter. Squire Investment Management Company LLC now owns 2,353 shares of the computer hardware maker’s stock worth $291,000 after purchasing an additional 2,059 shares during the period. Finally, Waterfront Wealth Inc. increased its holdings in NVIDIA by 530.8% during the 2nd quarter. Waterfront Wealth Inc. now owns 5,160 shares of the computer hardware maker’s stock worth $637,000 after acquiring an additional 4,342 shares during the period. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Craig Hallum raised their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Susquehanna lifted their price target on shares of NVIDIA from $120.00 to $145.00 and gave the company a “positive” rating in a research report on Monday, June 10th. Tigress Financial raised their price target on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Sanford C. Bernstein upped their price objective on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Five investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 100,110 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $130.10, for a total value of $13,024,311.00. Following the transaction, the executive vice president now directly owns 3,939,350 shares in the company, valued at approximately $512,509,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA 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 owns 492,409 shares in the company, valued at $57,370,572.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total transaction of $13,024,311.00. Following the transaction, the executive vice president now owns 3,939,350 shares of the company’s stock, valued at approximately $512,509,435. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,277,403 shares of company stock worth $512,029,184. 4.23% of the stock is currently owned by company insiders.

NVIDIA Trading Up 0.0 %

Shares of NVIDIA stock opened at $121.44 on Tuesday. The business has a 50-day moving average price of $115.83 and a 200-day moving average price of $108.59. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The firm has a market cap of $2.99 trillion, a price-to-earnings ratio of 71.02, a PEG ratio of 1.05 and a beta of 1.67. 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 (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Equities research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA announced that its board has approved a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is 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.