NVIDIA Co. (NASDAQ:NVDA) Holdings Cut by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,699,504 shares of the computer hardware maker’s stock after selling 5,639,754 shares during the period. NVIDIA makes up 5.4% of California Public Employees Retirement System’s portfolio, making the stock its 4th biggest holding. California Public Employees Retirement System owned about 0.24% of NVIDIA worth $8,017,046,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tacita Capital Inc purchased a new position in NVIDIA in the 4th quarter worth $28,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA during the fourth quarter valued at about $34,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA in the 4th quarter valued at about $40,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the 4th quarter valued at about $46,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 2.6 %

Shares of NASDAQ:NVDA opened at $114.50 on Friday. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $195.95. The stock’s 50-day moving average price is $110.85 and its two-hundred day moving average price is $128.19. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.79 trillion, a price-to-earnings ratio of 45.06, a PEG ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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, research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Analysts Set New Price Targets

NVDA has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Bank of America dropped their target price on shares of NVIDIA from $200.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. KeyCorp set a $190.00 price target on NVIDIA in a report on Wednesday, March 19th. Finally, HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.96.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the company’s 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 transaction, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is currently owned by corporate insiders.

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.