Handelsbanken Fonder AB Increases Holdings in NVIDIA Co. (NVDA)

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Handelsbanken Fonder AB lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,000 shares of the computer hardware maker’s stock after acquiring an additional 4,000 shares during the period. NVIDIA makes up approximately 1.6% of Handelsbanken Fonder AB’s portfolio, making the stock its 25th biggest position. Handelsbanken Fonder AB’s holdings in NVIDIA were worth $44,682,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Kwmg LLC acquired a new position in NVIDIA during the 2nd quarter valued at about $105,000. Legacy Financial Advisors Inc. boosted its stake in NVIDIA by 111.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock valued at $110,000 after purchasing an additional 233 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in NVIDIA during the 3rd quarter valued at about $124,000. Almanack Investment Partners LLC. acquired a new position in NVIDIA during the 2nd quarter valued at about $127,000. Finally, Ropes Wealth Advisors LLC boosted its stake in NVIDIA by 561.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock valued at $140,000 after purchasing an additional 500 shares during the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:NVDA traded down $0.32 during midday trading on Friday, hitting $205.67. The company had a trading volume of 10,298,458 shares, compared to its average volume of 14,560,181. NVIDIA Co. has a 52-week low of $176.01 and a 52-week high of $292.76. The firm has a market capitalization of $129.98 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 2.80 and a beta of 2.01. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.66 and a current ratio of 7.41.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.28. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was up 40.0% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA Co. will post 7.15 EPS for the current fiscal year.

In other NVIDIA news, insider Michael Byron sold 11,257 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the completion of the sale, the insider now directly owns 81,414 shares in the company, valued at $21,488,411.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 11,576 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $266.31, for a total transaction of $3,082,804.56. Following the sale, the chief financial officer now owns 297,482 shares of the company’s stock, valued at $79,222,431.42. The disclosure for this sale can be found here. Insiders sold 113,707 shares of company stock valued at $32,347,973 over the last quarter. 4.70% of the stock is owned by company insiders.

A number of equities analysts have recently weighed in on the company. BidaskClub downgraded NVIDIA from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 18th. Stifel Nicolaus restated a “hold” rating and issued a $250.00 target price (up previously from $243.00) on shares of NVIDIA in a research note on Friday, August 17th. ValuEngine downgraded NVIDIA from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Oppenheimer upgraded NVIDIA from a “market perform” rating to an “outperform” rating and set a $310.00 target price on the stock in a research note on Friday, August 17th. Finally, JPMorgan Chase & Co. upgraded NVIDIA from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $265.00 to $255.00 in a research note on Tuesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $289.82.

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NVIDIA Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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