Asahi Life Asset Management CO. LTD. Reduces Holdings in NVIDIA Co. (NASDAQ:NVDA)

Asahi Life Asset Management CO. LTD. trimmed its stake in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 31.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,265 shares of the computer hardware maker’s stock after selling 1,920 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in NVIDIA were worth $518,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Tortoise Investment Management LLC lifted its position in shares of NVIDIA by 40.8% during the second quarter. Tortoise Investment Management LLC now owns 183 shares of the computer hardware maker’s stock valued at $28,000 after buying an additional 53 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its position in shares of NVIDIA by 7.0% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 846 shares of the computer hardware maker’s stock valued at $128,000 after purchasing an additional 55 shares during the last quarter. Gould Capital LLC raised its position in shares of NVIDIA by 24.1% in the 2nd quarter. Gould Capital LLC now owns 283 shares of the computer hardware maker’s stock valued at $43,000 after purchasing an additional 55 shares during the last quarter. D.B. Root & Company LLC raised its position in shares of NVIDIA by 1.5% in the 2nd quarter. D.B. Root & Company LLC now owns 3,739 shares of the computer hardware maker’s stock valued at $566,000 after purchasing an additional 56 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in shares of NVIDIA by 0.9% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 6,093 shares of the computer hardware maker’s stock valued at $924,000 after purchasing an additional 57 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on NVDA shares. Needham & Company LLC increased their price objective on shares of NVIDIA from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 19th. Wedbush increased their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, November 17th. Citigroup cut their price target on shares of NVIDIA from $248.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, October 11th. Credit Suisse Group reiterated an “outperform” rating and issued a $210.00 price target (up previously from $205.00) on shares of NVIDIA in a report on Wednesday, November 16th. Finally, Raymond James cut their price target on shares of NVIDIA from $210.00 to $190.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 17th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $209.23.

NVIDIA Price Performance

NVDA stock traded down $6.03 during midday trading on Wednesday, reaching $186.62. The stock had a trading volume of 11,210,536 shares, compared to its average volume of 44,365,984. NVIDIA Co. has a 52-week low of $108.13 and a 52-week high of $289.46. The company has a current ratio of 3.39, a quick ratio of 2.74 and a debt-to-equity ratio of 0.45. The company’s fifty day simple moving average is $162.10 and its 200 day simple moving average is $153.77. The company has a market cap of $464.68 billion, a price-to-earnings ratio of 81.98, a price-to-earnings-growth ratio of 7.29 and a beta of 1.77.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its quarterly earnings results on Wednesday, November 16th. The computer hardware maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). NVIDIA had a return on equity of 30.75% and a net margin of 20.85%. The company had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The firm’s revenue was down 16.5% on a year-over-year basis. As a group, sell-side analysts predict that NVIDIA Co. will post 2.19 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 22nd. Stockholders of record on Thursday, December 1st were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. NVIDIA’s dividend payout ratio is presently 6.81%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 45,000 shares of NVIDIA stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $164.70, for a total transaction of $7,411,500.00. Following the transaction, the director now owns 1,190,888 shares in the company, valued at approximately $196,139,253.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 2,494 shares of the firm’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $167.89, for a total transaction of $418,717.66. Following the completion of the sale, the insider now directly owns 56,617 shares of the company’s stock, valued at approximately $9,505,428.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 45,000 shares of the firm’s stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $164.70, for a total value of $7,411,500.00. Following the sale, the director now directly owns 1,190,888 shares of the company’s stock, valued at $196,139,253.60. The disclosure for this sale can be found here. Insiders have sold a total of 227,787 shares of company stock worth $36,844,997 in the last quarter. Company insiders own 4.04% of the company’s stock.

NVIDIA Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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