Norges Bank Acquires Shares of 5,522,329 NVIDIA Co. (NASDAQ:NVDA)

Norges Bank acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,522,329 shares of the computer hardware maker’s stock, valued at approximately $737,230,000. Norges Bank owned 0.91% of NVIDIA at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of NVIDIA by 4.0% during the third quarter. Vanguard Group Inc. now owns 44,464,641 shares of the computer hardware maker’s stock worth $12,495,455,000 after acquiring an additional 1,693,736 shares during the period. Vanguard Group Inc grew its stake in shares of NVIDIA by 4.0% during the third quarter. Vanguard Group Inc now owns 44,464,641 shares of the computer hardware maker’s stock worth $12,495,455,000 after purchasing an additional 1,693,736 shares in the last quarter. BlackRock Inc. grew its stake in shares of NVIDIA by 1.0% during the fourth quarter. BlackRock Inc. now owns 39,307,194 shares of the computer hardware maker’s stock worth $5,247,509,000 after purchasing an additional 378,149 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of NVIDIA by 8,687.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,509,787 shares of the computer hardware maker’s stock worth $161,000 after purchasing an additional 21,265,009 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of NVIDIA by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 8,129,007 shares of the computer hardware maker’s stock worth $1,083,400,000 after purchasing an additional 266,779 shares in the last quarter. 69.81% of the stock is currently owned by institutional investors and hedge funds.

NVDA has been the subject of a number of analyst reports. BidaskClub downgraded shares of NVIDIA from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. Royal Bank of Canada lowered their target price on shares of NVIDIA from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, December 27th. Credit Suisse Group reiterated an “outperform” rating on shares of NVIDIA in a research note on Wednesday, January 9th. Oppenheimer reiterated an “outperform” rating and set a $250.00 target price on shares of NVIDIA in a research note on Wednesday, January 9th. Finally, Evercore ISI lowered their target price on shares of NVIDIA from $325.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, January 14th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the company. NVIDIA has an average rating of “Buy” and an average price target of $204.46.

In related news, EVP Debora Shoquist sold 5,823 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $185.00, for a total transaction of $1,077,255.00. Following the completion of the transaction, the executive vice president now directly owns 171,783 shares of the company’s stock, valued at $31,779,855. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 14,092 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $183.33, for a total transaction of $2,583,486.36. The disclosure for this sale can be found here. Insiders have sold 20,029 shares of company stock valued at $3,678,385 in the last quarter. Insiders own 4.64% of the company’s stock.

Shares of NVDA traded down $0.99 during mid-day trading on Friday, hitting $186.30. 9,524,704 shares of the company’s stock were exchanged, compared to its average volume of 12,203,274. NVIDIA Co. has a fifty-two week low of $124.46 and a fifty-two week high of $292.76. The company has a market capitalization of $113.36 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 4.50 and a beta of 1.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.76 and a current ratio of 7.94.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, February 14th. The computer hardware maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.27. NVIDIA had a net margin of 35.35% and a return on equity of 41.78%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. The business’s quarterly revenue was down 24.3% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 4.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.34%. NVIDIA’s dividend payout ratio (DPR) is 10.54%.

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NVIDIA Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates in 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 artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

Read More: Return on Investment (ROI)

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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