Public Employees Retirement Association of Colorado Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Public Employees Retirement Association of Colorado lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 853.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,994,558 shares of the computer hardware maker’s stock after purchasing an additional 11,630,957 shares during the period. NVIDIA comprises 6.7% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 2nd largest holding. Public Employees Retirement Association of Colorado owned approximately 0.05% of NVIDIA worth $1,605,348,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its stake in NVIDIA by 868.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 410,982 shares of the computer hardware maker’s stock valued at $50,772,000 after purchasing an additional 368,555 shares during the period. Clifford Group LLC grew its holdings in NVIDIA by 879.8% during the 2nd quarter. Clifford Group LLC now owns 19,547 shares of the computer hardware maker’s stock valued at $2,415,000 after buying an additional 17,552 shares in the last quarter. Retirement Investment Advisors Inc. bought a new stake in shares of NVIDIA during the second quarter valued at approximately $1,305,000. GM Advisory Group LLC lifted its holdings in shares of NVIDIA by 865.7% in the second quarter. GM Advisory Group LLC now owns 255,231 shares of the computer hardware maker’s stock worth $31,531,000 after buying an additional 228,801 shares in the last quarter. Finally, Trust Investment Advisors boosted its position in shares of NVIDIA by 909.2% during the second quarter. Trust Investment Advisors now owns 37,079 shares of the computer hardware maker’s stock worth $4,581,000 after acquiring an additional 33,405 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NVDA shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a report on Monday, August 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 target price on shares of NVIDIA in a report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Tuesday, October 8th. DA Davidson restated a “neutral” rating and set a $90.00 price target on shares of NVIDIA in a report on Thursday, August 29th. Finally, Truist Financial upped their price objective on NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $113.04, for a total transaction of $13,564,800.00. Following the sale, the chief executive officer now owns 77,334,995 shares of the company’s stock, valued at approximately $8,741,947,834.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $113.04, for a total value of $13,564,800.00. Following the completion of the sale, the chief executive officer now owns 77,334,995 shares in the company, valued at approximately $8,741,947,834.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,756,270 shares of company stock valued at $318,992,727 in the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Price Performance

NASDAQ NVDA opened at $139.56 on Thursday. The company has a market cap of $3.42 trillion, a PE ratio of 65.46, a P/E/G ratio of 1.25 and a beta of 1.67. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $144.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The firm’s 50 day moving average price is $123.56 and its 200-day moving average price is $113.50.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s quarterly revenue was up 122.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. Sell-side analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.