Swedbank AB Buys 1,868,358 Shares of NVIDIA Co. (NASDAQ:NVDA)

Swedbank AB raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 40,888,722 shares of the computer hardware maker’s stock after buying an additional 1,868,358 shares during the period. NVIDIA makes up approximately 6.3% of Swedbank AB’s holdings, making the stock its 2nd largest holding. Swedbank AB’s holdings in NVIDIA were worth $4,965,526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new stake in NVIDIA during the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the second quarter worth $31,000. West Financial Advisors LLC purchased a new stake in NVIDIA during the third quarter worth about $36,000. Finally, Studio Investment Management LLC increased its position in NVIDIA by 514.0% in the second quarter. Studio Investment Management LLC now owns 350 shares of the computer hardware maker’s stock worth $43,000 after buying an additional 293 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Benchmark restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Tuesday. Wedbush raised their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Citigroup boosted their price target on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Phillip Securities reiterated an “accumulate” rating and issued a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Finally, Robert W. Baird boosted their target price on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $164.63.

NVIDIA Price Performance

Shares of NVDA stock opened at $140.11 on Friday. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.14, a P/E/G ratio of 2.43 and a beta of 1.64. The stock’s fifty day simple moving average is $139.89 and its 200 day simple moving average is $128.54. NVIDIA Co. has a one year low of $51.69 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

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.