New York State Common Retirement Fund Sells 245,531 Shares of NVIDIA Co. (NASDAQ:NVDA)

New York State Common Retirement Fund cut its position in NVIDIA Co. (NASDAQ:NVDA) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,548,379 shares of the computer hardware maker’s stock after selling 245,531 shares during the quarter. NVIDIA accounts for about 2.4% of New York State Common Retirement Fund’s holdings, making the stock its 4th biggest holding. New York State Common Retirement Fund owned about 0.14% of NVIDIA worth $1,757,228,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in NVIDIA by 1.1% in the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after purchasing an additional 2,287,471 shares during the period. Northern Trust Corp raised its position in shares of NVIDIA by 3.6% during the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after acquiring an additional 910,009 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after acquiring an additional 16,835,703 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in NVIDIA by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,197,744 shares of the computer hardware maker’s stock valued at $5,740,887,000 after acquiring an additional 77,089 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in NVIDIA by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 10,544,759 shares of the computer hardware maker’s stock valued at $4,586,865,000 after purchasing an additional 209,085 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock valued at $52,689,898 over the last three months. 3.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NVDA shares. Craig Hallum increased their price objective on shares of NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Loop Capital assumed coverage on NVIDIA in a research report on Friday, February 16th. They issued a “buy” rating and a $1,200.00 price objective for the company. Oppenheimer upped their target price on NVIDIA from $850.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Mizuho lifted their target price on NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, HSBC increased their price target on NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $941.55.

NVIDIA Stock Performance

NASDAQ NVDA opened at $830.41 on Thursday. NVIDIA Co. has a 52-week low of $272.40 and a 52-week high of $974.00. The company has a 50-day simple moving average of $863.93 and a 200 day simple moving average of $644.83. The company has a market capitalization of $2.08 trillion, a PE ratio of 69.55, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. NVIDIA’s revenue was up 265.3% on a year-over-year basis. On average, research analysts predict that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is currently 1.34%.

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.