State of New Jersey Common Pension Fund D Sells 137,770 Shares of NVIDIA Co. (NASDAQ:NVDA)

State of New Jersey Common Pension Fund D reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,053,250 shares of the computer hardware maker’s stock after selling 137,770 shares during the period. NVIDIA accounts for approximately 4.5% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 3rd biggest holding. State of New Jersey Common Pension Fund D’s holdings in NVIDIA were worth $1,099,427,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. River Global Investors LLP grew its stake in shares of NVIDIA by 4.8% in the 3rd quarter. River Global Investors LLP now owns 13,791 shares of the computer hardware maker’s stock valued at $1,676,000 after buying an additional 631 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its stake in NVIDIA by 1.3% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 81,692 shares of the computer hardware maker’s stock worth $9,921,000 after buying an additional 1,026 shares during the period. Meritage Portfolio Management boosted its holdings in NVIDIA by 71.7% in the third quarter. Meritage Portfolio Management now owns 233,014 shares of the computer hardware maker’s stock worth $28,297,000 after acquiring an additional 97,282 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in NVIDIA by 1.2% in the third quarter. Crossmark Global Holdings Inc. now owns 1,588,348 shares of the computer hardware maker’s stock valued at $192,889,000 after acquiring an additional 19,001 shares during the period. Finally, Sanctuary Wealth Management L.L.C. increased its holdings in shares of NVIDIA by 9.5% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 8,340 shares of the computer hardware maker’s stock valued at $1,013,000 after acquiring an additional 724 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $139.93 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a 50-day simple moving average of $139.99 and a two-hundred day simple moving average of $127.80. The firm has a market capitalization of $3.43 trillion, a PE ratio of 55.07, a P/E/G ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the company posted $0.38 EPS. The firm’s revenue was up 93.6% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid 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 of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the completion of the sale, the director now owns 8,255,117 shares in the company, valued at approximately $1,012,159,895.37. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,351,886 shares of company stock valued at $176,825,650. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Citigroup boosted their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Wedbush lifted their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, TD Cowen increased their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

About NVIDIA

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.