Sumitomo Life Insurance Co. trims its investment in NVIDIA Co. (NASDAQ: NVDA) by 6.4% in Q3, as disclosed in the latest Securities and Exchange Commission filing. The insurance giant now holds 47,737 shares, constituting 0.6% of its portfolio and ranking as its 15th largest holding. The market value of Sumitomo’s NVIDIA holdings stands at $20,765,000 at the close of the last quarter.
Several other notable investors have adjusted their positions in NVIDIA. Peoples Financial Services CORP., Marquette Asset Management LLC, Quarry LP, Compass Wealth Management LLC, and MRP Capital Investments LLC all made strategic moves during different quarters of the year. Institutional investors and hedge funds now collectively own 64.79% of the company’s stock.
As of Monday, NVDA stock opened at $490.97 with a market cap of $1.21 trillion, a P/E ratio of 64.77, and a beta of 1.64. The 50-day and 200-day moving averages are $476.28 and $455.28, respectively. NVIDIA’s 12-month range is $140.34 to $505.48.
In its latest earnings report on November 21st, NVIDIA exceeded expectations with $4.02 earnings per share, surpassing the consensus estimate of $3.03. The company reported a revenue of $18.12 billion for the quarter, beating analyst estimates of $16.19 billion. NVIDIA’s net margin stands at 42.10%, and the return on equity is 72.28%. Analysts anticipate earnings per share of 11.06 for the current fiscal year.
NVIDIA also declared a quarterly dividend, paying $0.04 per share on December 28th, resulting in a dividend yield of 0.03%. The ex-dividend date was December 5th, and the dividend payout ratio is presently 2.11%.
Recent insider activity includes Director Dawn E. Hudson selling 1,000 shares at an average price of $492.52, bringing her total to 70,500 shares. EVP Debora Shoquist sold 20,000 shares at an average price of $481.85. In the last three months, insiders have collectively sold 77,442 shares, amounting to $37,710,302.
Analysts’ opinions on NVDA remain positive, with a Moderate Buy rating based on an average price target of $593.26. Notable analysts, including Truist Financial, TD Cowen, Benchmark, StockNews.com, and The Goldman Sachs Group, have consistently given buy and outperform ratings.
NVIDIA Corporation, a global provider of graphics, compute, and networking solutions, operates in the United States, Taiwan, China, and internationally. The company’s diversified offerings include GeForce GPUs for gaming, Quadro/NVIDIA RTX GPUs for enterprise workstation graphics, vGPU software for cloud-based computing, and automotive platforms for infotainment systems. Additionally, NVIDIA provides solutions for 3D design and virtual worlds through its Omniverse software.
