FUKOKU MUTUAL LIFE INSURANCE Co Sells 4,472 Shares of NVIDIA Co. (NASDAQ:NVDA)

FUKOKU MUTUAL LIFE INSURANCE Co cut its position in NVIDIA Co. (NASDAQ:NVDA) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 205,368 shares of the computer hardware maker’s stock after selling 4,472 shares during the period. NVIDIA makes up about 1.8% of FUKOKU MUTUAL LIFE INSURANCE Co’s holdings, making the stock its 21st largest holding. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in NVIDIA were worth $24,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in NVDA. Quest Partners LLC bought a new position in shares of NVIDIA in the second quarter worth $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA in the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA in the second quarter worth $31,000. West Financial Advisors LLC purchased a new position in shares of NVIDIA during the third quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. raised its stake in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research analyst reports. Truist Financial lifted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Piper Sandler upped their price target on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Citigroup raised their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

NVDA opened at $134.29 on Wednesday. The company’s 50-day simple moving average is $139.66 and its two-hundred day simple moving average is $128.04. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The stock has a market capitalization of $3.29 trillion, a P/E ratio of 52.85, a P/E/G ratio of 2.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. As a group, analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’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 directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,351,886 shares of company stock valued at $176,825,650 over the last three months. Corporate insiders own 4.23% of the company’s stock.

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.