The Manufacturers Life Insurance Company Has $2.84 Billion Stock Position in NVIDIA Co. (NASDAQ:NVDA)

The Manufacturers Life Insurance Company boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,362,857 shares of the computer hardware maker’s stock after acquiring an additional 56,933 shares during the quarter. NVIDIA comprises about 2.5% of The Manufacturers Life Insurance Company’s investment portfolio, making the stock its 4th biggest position. The Manufacturers Life Insurance Company’s holdings in NVIDIA were worth $2,837,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in NVIDIA during the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the third quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA during the second quarter valued at approximately $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA during the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its holdings in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Truist Financial raised their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. UBS Group boosted their price objective 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. Robert W. Baird raised their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, HSBC boosted their price target on NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 14th. 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 company’s stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Stock Down 3.0 %

NVDA stock opened at $135.91 on Friday. 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 52 week low of $53.56 and a 52 week high of $153.13. The stock has a market capitalization of $3.33 trillion, a PE ratio of 53.49, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The firm has a 50 day moving average of $139.90 and a 200 day moving average of $128.68.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for 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%. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. Sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Buying and Selling

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

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.