Illinois Municipal Retirement Fund Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Illinois Municipal Retirement Fund grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 128,618 shares of the computer hardware maker’s stock after purchasing an additional 2,364 shares during the quarter. NVIDIA makes up 1.1% of Illinois Municipal Retirement Fund’s holdings, making the stock its 6th largest holding. Illinois Municipal Retirement Fund’s holdings in NVIDIA were worth $63,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. LFA Lugano Financial Advisors SA acquired a new stake in NVIDIA in the fourth quarter valued at $28,000. Criterion Capital Advisors LLC acquired a new stake in NVIDIA in the 4th quarter valued at about $28,000. Your Advocates Ltd. LLP bought a new position in NVIDIA during the third quarter worth about $30,000. O Brien Wealth Partners LLC increased its position in NVIDIA by 139.5% during the fourth quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock worth $45,000 after buying an additional 53 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC raised its stake in NVIDIA by 44.1% in the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 3.9 %

NASDAQ NVDA opened at $830.41 on Thursday. NVIDIA Co. has a twelve month low of $272.40 and a twelve month high of $974.00. The business’s fifty day moving average is $863.93 and its 200 day moving average is $644.83. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.08 trillion, a price-to-earnings ratio of 69.55, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The firm’s revenue was up 265.3% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Insider Buying and Selling

In related news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock valued at $52,689,898 over the last 90 days. 3.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Citigroup increased their price objective on shares of NVIDIA from $820.00 to $1,030.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Wolfe Research increased their price target on shares of NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Oppenheimer boosted their price objective on NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company increased their target price on NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $941.55.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.