NVIDIA Co. (NASDAQ:NVDA) Stake Decreased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,046,200 shares of the computer hardware maker’s stock after selling 63,200 shares during the quarter. NVIDIA accounts for 5.2% of Louisiana State Employees Retirement System’s portfolio, making the stock its 2nd biggest holding. Louisiana State Employees Retirement System’s holdings in NVIDIA were worth $274,784,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Hoertkorn Richard Charles boosted its holdings in NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its holdings in NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after buying an additional 71 shares during the last quarter. Smart Portfolios LLC raised its position in shares of NVIDIA by 2.7% during the 3rd 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 raised its position in shares of NVIDIA by 0.5% during the 3rd 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 raised its position in shares of NVIDIA by 3.3% during the 4th 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 hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on NVDA shares. Loop Capital reiterated a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Phillip Securities restated an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. The Goldman Sachs Group raised their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Citigroup raised their target price on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Barclays raised their target price on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $121.67 on Friday. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13. The stock has a market cap of $2.97 trillion, a PE ratio of 47.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $129.26 and a 200-day simple moving average of $131.17.

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

NVIDIA Announces Dividend

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

Insider Activity

In related news, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,039,125 shares of company stock worth $137,062,338 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

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.