State of New Jersey Common Pension Fund D Sells 55,001 Shares of NVIDIA Co. (NASDAQ:NVDA)

State of New Jersey Common Pension Fund D lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,998,249 shares of the computer hardware maker’s stock after selling 55,001 shares during the period. NVIDIA accounts for 4.9% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 2nd biggest holding. State of New Jersey Common Pension Fund D’s holdings in NVIDIA were worth $1,208,375,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Palisade Asset Management LLC raised its position in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares in the last quarter. SMART Wealth LLC increased its position in NVIDIA by 289.5% during the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after buying an additional 53,747 shares during the period. Blue Square Asset Management LLC increased its position in NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares during the period. Narwhal Capital Management increased its position in NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares during the period. Finally, Tybourne Capital Management HK Ltd. increased its position in NVIDIA by 46.7% during the third quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock worth $2,043,000 after buying an additional 5,360 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $117.70 on Friday. The business’s 50-day moving average price is $126.92 and its 200 day moving average price is $131.02. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The company has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. On average, research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 179,109 shares of company stock worth $22,117,015 in the last three months. 4.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research report on Wednesday. Barclays lifted their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley set a $162.00 price target on NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday. Susquehanna reiterated a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research note on Wednesday. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

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.