NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 40.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,000 shares of the computer hardware maker’s stock after buying an additional 18,000 shares during the period. NVIDIA makes up approximately 3.9% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 3rd largest holding. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in NVIDIA were worth $7,529,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NVDA. China Universal Asset Management Co. Ltd. increased its stake in shares of NVIDIA by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares in the last quarter. Milestone Resources Group Ltd boosted its holdings in shares of NVIDIA by 34.5% in the 1st quarter. Milestone Resources Group Ltd now owns 438,719 shares of the computer hardware maker’s stock valued at $396,409,000 after purchasing an additional 112,614 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of NVIDIA by 19.4% during the 1st quarter. ProShare Advisors LLC now owns 1,588,324 shares of the computer hardware maker’s stock valued at $1,435,146,000 after acquiring an additional 258,082 shares in the last quarter. Baron Wealth Management LLC lifted its holdings in shares of NVIDIA by 7.1% during the 1st quarter. Baron Wealth Management LLC now owns 1,997 shares of the computer hardware maker’s stock valued at $1,804,000 after acquiring an additional 132 shares in the last quarter. Finally, Neumann Capital Management LLC lifted its holdings in shares of NVIDIA by 2.9% during the 1st quarter. Neumann Capital Management LLC now owns 21,620 shares of the computer hardware maker’s stock valued at $19,535,000 after acquiring an additional 610 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on NVDA shares. Westpark Capital boosted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Susquehanna boosted their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Robert W. Baird boosted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday. Raymond James upped their price target on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Finally, Mizuho increased their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA opened at $141.95 on Monday. The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average is $134.01 and its 200-day moving average is $122.51. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 55.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm earned $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

NVIDIA declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the sale, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The trade was a 14.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Company 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.