Fifth Third Bancorp Has $1.39 Billion Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Fifth Third Bancorp lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,327,515 shares of the computer hardware maker’s stock after selling 192,353 shares during the period. NVIDIA accounts for approximately 5.0% of Fifth Third Bancorp’s holdings, making the stock its 2nd biggest position. Fifth Third Bancorp’s holdings in NVIDIA were worth $1,386,882,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Hoertkorn Richard Charles lifted its position in shares of NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares in the last quarter. Smart Portfolios LLC lifted its position in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after acquiring an additional 75 shares in the last quarter. Palisade Asset Management LLC lifted its position in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares in the last quarter. Kwmg LLC lifted its position in shares of NVIDIA by 0.6% in the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after acquiring an additional 77 shares in the last quarter. Finally, Total Wealth Planning LLC lifted its position in shares of NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were 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 owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 in the last three months. 4.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. UBS Group upped their price target on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Mizuho increased their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Tigress Financial upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating and increased their target price for the stock from $170.00 to $220.00 in a research report on Tuesday, January 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.21.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $138.85 on Monday. The company has a fifty day moving average of $134.52 and a 200-day moving average of $130.26. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 54.64, a P/E/G ratio of 1.62 and a beta of 1.62. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $66.25 and a twelve month high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. 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, December 5th. NVIDIA’s dividend payout ratio is 1.57%.

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.