Public Sector Pension Investment Board Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Public Sector Pension Investment Board increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,110.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,626,090 shares of the computer hardware maker’s stock after acquiring an additional 5,161,435 shares during the period. NVIDIA comprises approximately 4.3% of Public Sector Pension Investment Board’s investment portfolio, making the stock its 3rd largest holding. Public Sector Pension Investment Board’s holdings in NVIDIA were worth $695,047,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVDA. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of NVIDIA in the 1st quarter valued at $27,000. HBC Financial Services PLLC bought a new position in NVIDIA during the 1st quarter worth $30,000. Norwood Financial Corp bought a new position in NVIDIA during the 1st quarter worth $45,000. Finally, Coston McIsaac & Partners raised its position in NVIDIA by 231.3% during the 1st quarter. Coston McIsaac & Partners now owns 53 shares of the computer hardware maker’s stock worth $47,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research reports. Benchmark restated a “buy” rating and issued a $170.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. KeyCorp lifted their price target on shares of NVIDIA from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Mizuho lifted their price objective on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price objective on shares of NVIDIA in a research note on Thursday, October 10th. Five research 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.07.

NVIDIA Price Performance

NVIDIA stock opened at $141.54 on Friday. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $144.42. The stock has a market cap of $3.48 trillion, a P/E ratio of 82.77, a PEG ratio of 1.52 and a beta of 1.67. The company has a 50-day moving average price of $124.25 and a 200 day moving average price of $114.26. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

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

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 2.34%.

NVIDIA announced that its board has approved a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $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 is available through this link. In other news, Director Mark A. Stevens sold 40,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares of the company’s stock, valued at $1,014,077,958.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s 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 in the company, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,636,270 shares of company stock worth $305,367,927. 4.23% of the stock is currently owned by insiders.

NVIDIA Company 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.