South Dakota Investment Council Has $107.65 Million Holdings in NVIDIA Corporation (NASDAQ:NVDA)

South Dakota Investment Council trimmed its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 993,230 shares of the computer hardware maker’s stock after selling 1,245 shares during the quarter. NVIDIA comprises approximately 2.2% of South Dakota Investment Council’s investment portfolio, making the stock its 7th biggest position. South Dakota Investment Council’s holdings in NVIDIA were worth $107,646,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in NVIDIA during the fourth quarter worth about $43,515,504,000. GAMMA Investing LLC increased its stake in shares of NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp increased its position in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of NVIDIA by 204.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock worth $3,864,026,000 after buying an additional 23,948,733 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of NVIDIA in the 4th quarter worth $2,987,733,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Down 0.9%

NVIDIA stock opened at $180.45 on Friday. The company has a 50 day moving average price of $163.96 and a 200 day moving average price of $135.45. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 58.21, a P/E/G ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. Research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s payout ratio is presently 1.29%.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total value of $13,603,500.00. Following the transaction, the chief executive officer owned 72,998,225 shares in the company, valued at $13,240,418,050.50. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 27,640 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the transaction, the chief financial officer owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,837,440 shares of company stock valued at $889,404,782. 4.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVDA. Needham & Company LLC raised their target price on NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. BNP Paribas upgraded NVIDIA to a “hold” rating in a research report on Friday, August 1st. Mizuho lifted their price target on NVIDIA from $192.00 to $205.00 and gave the stock an “outperform” rating in a research note on Thursday. Raymond James Financial boosted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. Finally, Bank of America boosted their target price on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.33.

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.