NVIDIA Co. (NASDAQ:NVDA) is State of New Jersey Common Pension Fund D’s 3rd Largest Position

State of New Jersey Common Pension Fund D cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.5% during the third quarter, HoldingsChannel reports. The firm owned 9,053,250 shares of the computer hardware maker’s stock after selling 137,770 shares during the quarter. NVIDIA comprises 4.5% of State of New Jersey Common Pension Fund D’s holdings, making the stock its 3rd largest position. State of New Jersey Common Pension Fund D’s holdings in NVIDIA were worth $1,099,427,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its position in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. lifted its stake in NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after purchasing an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position 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 buying an additional 73,589,208 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

Shares of NVDA opened at $139.93 on Friday. The firm has a market capitalization of $3.43 trillion, a PE ratio of 55.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company’s fifty day moving average price is $139.99 and its 200-day moving average price is $127.80. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89.

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

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the transaction, the director now directly owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. This trade represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s 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 sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,351,886 shares of company stock worth $176,825,650. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Robert W. Baird upped their price objective on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. DA Davidson upped their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Truist Financial upped their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Raymond James lifted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $164.15.

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.