Arizona State Retirement System Has $1.03 Billion Holdings in NVIDIA Co. (NASDAQ:NVDA)

Arizona State Retirement System boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,642,796 shares of the computer hardware maker’s stock after acquiring an additional 564,354 shares during the period. NVIDIA accounts for 6.3% of Arizona State Retirement System’s investment portfolio, making the stock its 2nd largest holding. Arizona State Retirement System’s holdings in NVIDIA were worth $1,026,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vantage Financial Partners LLC grew its holdings in NVIDIA by 53.6% during the 4th quarter. Vantage Financial Partners LLC now owns 13,524 shares of the computer hardware maker’s stock worth $1,816,000 after acquiring an additional 4,719 shares during the period. Aigen Investment Management LP bought a new stake in shares of NVIDIA during the 4th quarter valued at about $1,110,000. Proficio Capital Partners LLC grew its stake in NVIDIA by 10.7% during the fourth quarter. Proficio Capital Partners LLC now owns 260,403 shares of the computer hardware maker’s stock worth $34,970,000 after purchasing an additional 25,169 shares during the period. Boulder Wealth Advisors LLC increased its holdings in NVIDIA by 8.4% in the fourth quarter. Boulder Wealth Advisors LLC now owns 6,078 shares of the computer hardware maker’s stock worth $816,000 after purchasing an additional 473 shares in the last quarter. Finally, SPC Financial Inc. lifted its stake in NVIDIA by 13.4% in the fourth quarter. SPC Financial Inc. now owns 30,385 shares of the computer hardware maker’s stock valued at $4,080,000 after buying an additional 3,588 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $107.57 on Friday. The firm has a 50 day simple moving average of $119.10 and a two-hundred day simple moving average of $130.45. The stock has a market cap of $2.62 trillion, a PE ratio of 42.33, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a one year low of $75.61 and a one year high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. On average, analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Insiders Place Their Bets

In related news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 over the last quarter. 4.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVDA. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. KeyCorp set a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Barclays upped their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. TD Cowen reduced their target price on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $169.01.

NVIDIA Company 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.