NJ State Employees Deferred Compensation Plan Has $10.55 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

NJ State Employees Deferred Compensation Plan boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 77.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,300 shares of the computer hardware maker’s stock after buying an additional 9,300 shares during the period. NVIDIA makes up about 1.5% of NJ State Employees Deferred Compensation Plan’s holdings, making the stock its 8th largest holding. NJ State Employees Deferred Compensation Plan’s holdings in NVIDIA were worth $10,548,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA bought a new stake in NVIDIA during the fourth quarter worth about $28,000. Criterion Capital Advisors LLC bought a new stake in NVIDIA during the fourth quarter worth about $28,000. Your Advocates Ltd. LLP bought a new stake in NVIDIA during the third quarter worth about $30,000. Trivant Custom Portfolio Group LLC lifted its stake in NVIDIA by 44.1% during the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after purchasing an additional 30 shares during the last quarter. Finally, O Brien Wealth Partners LLC lifted its stake in NVIDIA by 139.5% during the fourth quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock worth $45,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several research analyst reports. Citigroup lifted their price target on NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. UBS Group lifted their price objective on NVIDIA from $1,100.00 to $1,150.00 and gave the stock a “buy” rating in a report on Tuesday. Craig Hallum lifted their price objective on NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Piper Sandler Companies lifted their price objective on NVIDIA to $850.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $1,000.00 price objective on shares of NVIDIA in a report on Tuesday, March 19th. Four investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $941.55.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the transaction, the director now directly owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $887.89 on Friday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average price is $865.39 and its 200-day moving average price is $646.31. NVIDIA Co. has a 52 week low of $272.40 and a 52 week high of $974.00. The stock has a market cap of $2.22 trillion, a P/E ratio of 74.36, a P/E/G ratio of 1.19 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last issued 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 return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 265.3% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio 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.