Resona Asset Management Co. Ltd. Makes New $1.06 Billion Investment in NVIDIA Co. (NASDAQ:NVDA)

Resona Asset Management Co. Ltd. acquired a new position in NVIDIA Co. (NASDAQ:NVDA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,867,025 shares of the computer hardware maker's stock, valued at approximately $1,059,648,000. NVIDIA accounts for 6.3% of Resona Asset Management Co. Ltd.'s investment portfolio, making the stock its 2nd largest position.

Several other large investors also recently added to or reduced their stakes in NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the fourth quarter valued at $34,000. Vision Financial Markets LLC bought a new stake in NVIDIA in the 4th quarter valued at $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the 4th quarter worth $40,000. Finally, Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA during the 4th quarter valued at about $46,000. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on NVDA shares. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. TD Cowen decreased their price target on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. William Blair restated an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, Benchmark reiterated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Stock Down 0.2 %

NVDA stock opened at $113.54 on Wednesday. The stock has a market capitalization of $2.77 trillion, a P/E ratio of 44.68, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $195.95. The firm has a 50-day simple moving average of $110.37 and a 200-day simple moving average of $127.81. 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 - Get Free Report) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. Equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company's stock, 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 filing with the SEC, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,147 shares of company stock valued at $17,133,207. Corporate insiders own 4.23% of the company's stock.

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.

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