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

State of New Jersey Common Pension Fund D grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 552.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,191,020 shares of the computer hardware maker’s stock after purchasing an additional 7,783,345 shares during the quarter. NVIDIA makes up approximately 5.0% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 3rd largest holding. State of New Jersey Common Pension Fund D’s holdings in NVIDIA were worth $1,135,459,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the first quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter valued at about $27,000. HBC Financial Services PLLC acquired a new position in shares of NVIDIA in the first quarter valued at about $30,000. Norwood Financial Corp acquired a new position in shares of NVIDIA in the first quarter valued at about $45,000. Finally, Coston McIsaac & Partners grew its stake in shares of NVIDIA by 231.3% in the first quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock valued at $47,000 after acquiring an additional 37 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $119.17, for a total transaction of $14,300,400.00. Following the transaction, the chief executive officer now directly owns 78,654,995 shares of the company’s stock, valued at $9,373,315,754.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,236,270 shares of company stock valued at $376,316,727 in the last quarter. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVDA. William Blair began coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Mizuho upped their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Evercore ISI upped their price target on shares of NVIDIA from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Finally, UBS Group reiterated a “buy” rating and set a $150.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $142.46.

NVIDIA Stock Up 2.4 %

NVIDIA stock opened at $138.07 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76. The firm has a 50 day moving average price of $119.30 and a two-hundred day moving average price of $111.23. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 80.74, a PEG ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter last year, the business earned $0.25 EPS. The company’s revenue was up 122.4% compared to the same quarter last year. Equities analysts predict that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were given 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 Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

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.