State of New Jersey Common Pension Fund D Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

State of New Jersey Common Pension Fund D boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,402,523 shares of the computer hardware maker’s stock after acquiring an additional 1,430 shares during the period. NVIDIA accounts for about 2.3% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 4th biggest position. State of New Jersey Common Pension Fund D’s holdings in NVIDIA were worth $694,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in NVDA. Handelsbanken Fonder AB increased its stake in NVIDIA by 6.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,135,826 shares of the computer hardware maker’s stock worth $494,073,000 after acquiring an additional 70,859 shares during the period. Jmac Enterprises LLC increased its stake in shares of NVIDIA by 47.4% in the 3rd quarter. Jmac Enterprises LLC now owns 7,207 shares of the computer hardware maker’s stock valued at $3,135,000 after purchasing an additional 2,319 shares during the last quarter. Roof Eidam Maycock Peralta LLC bought a new position in shares of NVIDIA in the 3rd quarter valued at $1,124,000. McGlone Suttner Wealth Management Inc. increased its stake in shares of NVIDIA by 3.4% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 2,752 shares of the computer hardware maker’s stock valued at $1,198,000 after purchasing an additional 90 shares during the last quarter. Finally, Riversedge Advisors LLC increased its stake in shares of NVIDIA by 53.7% in the 3rd quarter. Riversedge Advisors LLC now owns 1,930 shares of the computer hardware maker’s stock valued at $840,000 after purchasing an additional 674 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Argus lifted their price target on NVIDIA from $850.00 to $950.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,100.00 price target on shares of NVIDIA in a research note on Tuesday, February 20th. Raymond James lifted their price target on NVIDIA from $850.00 to $1,100.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 11th. Stifel Nicolaus reissued a “buy” rating and set a $910.00 price objective on shares of NVIDIA in a report on Wednesday, March 20th. Finally, UBS Group raised their price objective on NVIDIA from $1,100.00 to $1,150.00 and gave the company a “buy” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $941.55.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $887.89 on Friday. NVIDIA Co. has a one year low of $272.40 and a one year high of $974.00. The firm has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 74.36, a PEG ratio of 1.19 and a beta of 1.75. The business has a 50-day simple moving average of $865.39 and a 200 day simple moving average of $646.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the company posted $0.65 EPS. The firm’s revenue was up 265.3% compared to the same quarter last year. On average, research analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

Insiders Place Their Bets

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

NVIDIA Profile

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.