NVIDIA Co. (NASDAQ:NVDA) Stake Lifted by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,110.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,626,090 shares of the computer hardware maker’s stock after purchasing an additional 5,161,435 shares during the quarter. NVIDIA accounts for about 4.3% 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 $695,047,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVDA. Bank of New York Mellon Corp boosted its stake in shares of NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of NVIDIA by 808.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after acquiring an additional 73,589,208 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of NVIDIA by 696.6% during the second quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after acquiring an additional 71,757,065 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of NVIDIA by 882.4% during the second quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock valued at $9,098,519,000 after purchasing an additional 66,151,750 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,636,270 shares of company stock valued at $305,367,927 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Up 0.8 %

Shares of NASDAQ:NVDA opened at $141.54 on Friday. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $144.42. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 82.77, a P/E/G ratio of 1.52 and a beta of 1.67. The stock has a 50 day moving average price of $124.25 and a 200-day moving average price of $114.26. 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 (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its board has approved a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NVDA. New Street Research upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, August 6th. DA Davidson restated a “neutral” rating and set a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on NVIDIA from $115.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $143.07.

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.