Lansforsakringar Fondforvaltning AB publ Invests $1.29 Billion in NVIDIA Co. (NASDAQ:NVDA)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 9,597,127 shares of the computer hardware maker’s stock, valued at approximately $1,288,798,000. NVIDIA makes up about 15.2% of Lansforsakringar Fondforvaltning AB publ’s holdings, making the stock its biggest holding.

A number of other hedge funds also recently modified their holdings of the stock. Regent Peak Wealth Advisors LLC boosted its holdings in NVIDIA by 0.4% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 81,833 shares of the computer hardware maker’s stock valued at $10,989,000 after purchasing an additional 322 shares during the period. Wealth Group Ltd. boosted its holdings in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after purchasing an additional 100 shares during the period. Tallon Kerry Patrick bought a new stake in NVIDIA in the 4th quarter valued at about $972,000. Capital & Planning LLC boosted its holdings in NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock valued at $1,021,000 after purchasing an additional 1,099 shares during the period. Finally, Financial Management Professionals Inc. boosted its holdings in NVIDIA by 10.9% in the 4th quarter. Financial Management Professionals Inc. now owns 22,950 shares of the computer hardware maker’s stock valued at $3,082,000 after purchasing an additional 2,261 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVDA. Truist Financial boosted their target price on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Bank of America boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Raymond James boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 29th. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $171.66.

NVIDIA Stock Up 1.2%

Shares of NASDAQ NVDA opened at $141.72 on Friday. The firm has a market cap of $3.46 trillion, a PE ratio of 55.77, a P/E/G ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $195.95. The company’s fifty day simple moving average is $118.45 and its 200 day simple moving average is $126.24. 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 issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.29%.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,257,983 shares of company stock worth $172,973,349. Insiders own 4.17% 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.