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 lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,998,249 shares of the computer hardware maker’s stock after selling 55,001 shares during the quarter. NVIDIA comprises approximately 4.9% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 2nd largest 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.

Several other hedge funds have also recently modified their holdings of NVDA. Macroview Investment Management LLC boosted its position in NVIDIA by 2.9% in the fourth quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker’s stock valued at $461,000 after buying an additional 96 shares during the last quarter. Americana Partners LLC boosted its position in NVIDIA by 16.0% in the fourth quarter. Americana Partners LLC now owns 241,666 shares of the computer hardware maker’s stock valued at $32,453,000 after buying an additional 33,355 shares during the last quarter. Philip James Wealth Mangement LLC boosted its position in NVIDIA by 3.6% in the 4th quarter. Philip James Wealth Mangement LLC now owns 18,483 shares of the computer hardware maker’s stock worth $2,482,000 after purchasing an additional 634 shares in the last quarter. Capital Performance Advisors LLP boosted its position in NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares in the last quarter. Finally, Pure Portfolios Holdings LLC boosted its position in NVIDIA by 0.9% in the 4th quarter. Pure Portfolios Holdings LLC now owns 36,926 shares of the computer hardware maker’s stock worth $4,959,000 after purchasing an additional 321 shares in the last quarter. 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 stock has a market cap of $2.87 trillion, a PE ratio of 46.32, a P/E/G 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 Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The stock has a fifty day simple moving average of $126.92 and a 200-day simple moving average of $131.02.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued 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 of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Susquehanna restated a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a research report on Wednesday. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a research report on Wednesday. Barclays upped their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. DA Davidson lowered their price objective on NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, HSBC lowered their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $171.51.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The shares were 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 of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock worth $22,117,015 in the last three months. 4.23% of the stock is owned by company insiders.

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.