Deseret Mutual Benefit Administrators Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Deseret Mutual Benefit Administrators lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,527 shares of the computer hardware maker’s stock after selling 258 shares during the period. Deseret Mutual Benefit Administrators’ holdings in NVIDIA were worth $205,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. AMF Tjanstepension AB raised its position in NVIDIA by 2.2% during the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after buying an additional 169,445 shares during the last quarter. Wealth Group Ltd. increased its stake in shares of NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after acquiring an additional 265 shares during the period. SOA Wealth Advisors LLC. raised its holdings in shares of NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares during the last quarter. Swedbank AB lifted its position in NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the period. Finally, Benin Management CORP boosted its holdings in NVIDIA by 62.7% in the third quarter. Benin Management CORP now owns 24,860 shares of the computer hardware maker’s stock valued at $3,019,000 after purchasing an additional 9,576 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,609 shares of company stock valued at $22,642,615. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $111.43 on Friday. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $153.13. The firm’s 50 day moving average is $125.57 and its 200-day moving average is $131.32. The company has a market capitalization of $2.72 trillion, a PE ratio of 43.85, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. 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 (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Equities research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Wall Street Analyst Weigh In

NVDA has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Susquehanna restated a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Mizuho decreased their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Finally, Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

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.