FUKOKU MUTUAL LIFE INSURANCE Co Has $20.33 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Fukoku Mutual Life Insurance Co reduced its holdings in NVIDIA Corporation by 1.2%, now owning 187,569 shares worth $20.33 million, making it the company's 28th largest holding.
• NVIDIA reported $0.81 earnings per share in its latest quarter, missing estimates by $0.06, though revenue increased significantly to $44.06 billion.
• The stock is currently trading at approximately $180.77 with a market capitalization of $4.41 trillion and has a consensus rating of "Moderate Buy" with a target price of $183.75.

FUKOKU MUTUAL LIFE INSURANCE Co lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,569 shares of the computer hardware maker's stock after selling 2,318 shares during the quarter. NVIDIA comprises approximately 1.5% of FUKOKU MUTUAL LIFE INSURANCE Co's investment portfolio, making the stock its 28th largest holding. FUKOKU MUTUAL LIFE INSURANCE Co's holdings in NVIDIA were worth $20,329,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wealth Group Ltd. boosted its holdings in NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after acquiring an additional 100 shares during the last quarter. Brighton Jones LLC boosted its holdings in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after acquiring an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in NVIDIA by 1.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock worth $315,100,000 after acquiring an additional 22,929 shares during the last quarter. Highview Capital Management LLC DE boosted its holdings in NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock worth $7,842,000 after acquiring an additional 3,653 shares during the last quarter. Finally, Hudson Value Partners LLC boosted its holdings in NVIDIA by 30.7% during the 4th quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock worth $6,805,000 after acquiring an additional 11,900 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Up 0.8%

Shares of NASDAQ NVDA opened at $180.77 on Friday. The stock has a market capitalization of $4.41 trillion, a P/E ratio of 58.31, a PEG ratio of 1.58 and a beta of 2.14. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm's 50 day simple moving average is $158.85 and its two-hundred day simple moving average is $133.52.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the company posted $0.61 EPS. As a group, analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA's dividend payout ratio is 1.29%.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,537,440 shares of company stock worth $835,035,782 in the last ninety days. 4.17% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on NVDA. Raymond James Financial lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Barclays lifted their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Mizuho set a $192.00 target price on NVIDIA and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

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.

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