Public Sector Pension Investment Board Acquires 517,760 Shares of NVIDIA Co. (NASDAQ:NVDA)

Public Sector Pension Investment Board lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,143,850 shares of the computer hardware maker’s stock after acquiring an additional 517,760 shares during the period. NVIDIA accounts for about 4.0% of Public Sector Pension Investment Board’s investment portfolio, making the stock its 3rd largest holding. Public Sector Pension Investment Board’s holdings in NVIDIA were worth $746,109,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NVDA. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the third quarter valued at about $27,000. Quest Partners LLC purchased a new stake in NVIDIA during the second quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the second quarter valued at about $31,000. West Financial Advisors LLC purchased a new stake in NVIDIA during the third quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NVDA. Oppenheimer reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Robert W. Baird boosted their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. TD Cowen boosted their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Melius Research boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.27.

NVIDIA Stock Down 2.0 %

NASDAQ:NVDA opened at $133.23 on Tuesday. The firm has a market capitalization of $3.26 trillion, a PE ratio of 52.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The stock has a 50 day moving average of $139.84 and a 200-day moving average of $128.76. NVIDIA Co. has a 52 week low of $54.74 and a 52 week high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued 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 was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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.