NVIDIA Co. (NASDAQ:NVDA) is Sumitomo Life Insurance Co.’s 8th Largest Position

Sumitomo Life Insurance Co. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 546,348 shares of the computer hardware maker’s stock after buying an additional 29,127 shares during the period. NVIDIA comprises about 1.4% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 8th biggest holding. Sumitomo Life Insurance Co.’s holdings in NVIDIA were worth $73,369,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NVDA. Legal & General Group Plc raised its holdings in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares in the last quarter. International Assets Investment Management LLC raised its holdings in NVIDIA by 12,898.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after purchasing an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC bought a new position in NVIDIA in the 3rd quarter worth $4,589,905,000. Finally, Clearbridge Investments LLC raised its holdings in NVIDIA by 810.6% in the 2nd quarter. Clearbridge Investments LLC now owns 38,584,018 shares of the computer hardware maker’s stock worth $4,766,670,000 after purchasing an additional 34,346,955 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NVDA shares. Truist Financial increased 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. Mizuho raised their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Susquehanna raised their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Tigress Financial upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating and raised their price objective for the company from $170.00 to $220.00 in a research note on Tuesday, January 28th. Finally, Robert W. Baird raised their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. 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 stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $134.35 on Friday. NVIDIA Co. has a fifty-two week low of $74.22 and a fifty-two week high of $153.13. The business has a 50-day moving average of $134.66 and a two-hundred day moving average of $131.33. The stock has a market capitalization of $3.29 trillion, a P/E ratio of 52.87, a P/E/G ratio of 1.76 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. On average, equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

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.