New York State Common Retirement Fund Has $4.08 Billion Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

New York State Common Retirement Fund cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,353,639 shares of the computer hardware maker’s stock after selling 114,595 shares during the quarter. NVIDIA makes up 5.5% of New York State Common Retirement Fund’s portfolio, making the stock its 3rd largest position. New York State Common Retirement Fund owned about 0.12% of NVIDIA worth $4,076,190,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NVDA. Hoertkorn Richard Charles increased its stake in shares of NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares during the period. DiNuzzo Private Wealth Inc. increased its stake in shares of NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after purchasing an additional 71 shares during the period. Smart Portfolios LLC increased its stake in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the period. Palisade Asset Management LLC increased its stake in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the period. Finally, Baker Boyer National Bank increased its stake in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 76 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,109 shares of company stock worth $22,117,015. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $117.70 on Monday. The business’s 50 day simple moving average is $126.92 and its 200 day simple moving average is $131.36. NVIDIA Co. has a one year low of $75.61 and a one year high of $153.13. The stock has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a PEG ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NVDA. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday. DA Davidson reduced their price target on NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday. KeyCorp set a $190.00 price target on NVIDIA in a research report on Wednesday. Finally, Stifel Nicolaus set a $180.00 price target on NVIDIA in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.