Nan Shan Life Insurance Co. Ltd. lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,939 shares of the computer hardware maker’s stock after acquiring an additional 22,639 shares during the quarter. NVIDIA comprises about 2.3% of Nan Shan Life Insurance Co. Ltd.’s investment portfolio, making the stock its 14th biggest holding. Nan Shan Life Insurance Co. Ltd.’s holdings in NVIDIA were worth $61,666,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Accurate Investment Solutions Inc. grew its position in NVIDIA by 111.1% in the first quarter. Accurate Investment Solutions Inc. now owns 95 shares of the computer hardware maker’s stock worth $25,000 after buying an additional 50 shares during the last quarter. PrairieView Partners LLC acquired a new position in NVIDIA in the first quarter worth approximately $26,000. Stonebridge Financial Planning Group LLC acquired a new position in NVIDIA in the fourth quarter worth approximately $28,000. Howard Wealth Management LLC acquired a new position in NVIDIA in the fourth quarter worth approximately $28,000. Finally, Braun Bostich & Associates Inc. acquired a new position in NVIDIA in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 66.68% of the company’s stock.
In other news, Director Mark A. Stevens sold 60,000 shares of the business’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $261.63, for a total transaction of $15,697,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James C. Gaither sold 15,669 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $269.41, for a total transaction of $4,221,385.29. Following the transaction, the director now owns 2,221 shares in the company, valued at approximately $598,359.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,669 shares of company stock valued at $27,025,985. Company insiders own 4.64% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.44. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3 billion. NVIDIA had a net margin of 25.60% and a return on equity of 26.08%. The business’s revenue was up 38.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Equities analysts anticipate that NVIDIA Co. will post 6.29 EPS for the current fiscal year.
Several research analysts have issued reports on the stock. JPMorgan Chase & Co. restated an “overweight” rating and issued a $405.00 price target (up previously from $305.00) on shares of NVIDIA in a research report on Friday. Cowen lifted their price target on shares of NVIDIA from $325.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday. Credit Suisse Group initiated coverage on shares of NVIDIA in a research report on Thursday. They set an “outperform” rating and a $425.00 price objective on the stock. Raymond James lifted their price objective on shares of NVIDIA from $330.00 to $370.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, BidaskClub upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 1st. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $340.41.
NVIDIA Company Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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