Elo Mutual Pension Insurance Co Trims Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Elo Mutual Pension Insurance Co lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,261,404 shares of the computer hardware maker’s stock after selling 76,555 shares during the period. NVIDIA accounts for approximately 6.5% of Elo Mutual Pension Insurance Co’s holdings, making the stock its 2nd biggest position. Elo Mutual Pension Insurance Co’s holdings in NVIDIA were worth $303,684,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the 4th quarter worth about $28,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the 4th quarter worth about $34,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Rosenblatt Securities cut their target price on NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. William Blair restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Mizuho lowered their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Finally, Benchmark reaffirmed a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.96.

NVIDIA Price Performance

NASDAQ NVDA opened at $109.02 on Wednesday. NVIDIA Co. has a twelve month low of $81.25 and a twelve month high of $195.95. The stock has a market capitalization of $2.66 trillion, a PE ratio of 42.90, a P/E/G ratio of 1.76 and a beta of 1.96. The stock has a 50-day simple moving average of $111.97 and a 200 day simple moving average of $128.63. 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 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. Research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % 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 Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 in the last 90 days. 4.23% of the stock is currently owned by company insiders.

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.