New York State Common Retirement Fund Has $3.13 Billion Holdings in NVIDIA Corporation (NASDAQ:NVDA)

New York State Common Retirement Fund reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,833,941 shares of the computer hardware maker's stock after selling 1,519,698 shares during the period. NVIDIA comprises 4.6% of New York State Common Retirement Fund's investment portfolio, making the stock its 3rd biggest position. New York State Common Retirement Fund owned approximately 0.12% of NVIDIA worth $3,125,023,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Vision Financial Markets LLC bought a new position in NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management bought a new position in NVIDIA in the 4th quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in NVIDIA in the 1st quarter valued at $51,000. Bruce G. Allen Investments LLC boosted its holdings in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the period. Finally, LSV Asset Management bought a new position in NVIDIA in the 4th quarter valued at $54,000. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on NVDA. Citigroup raised their price target on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. BNP Paribas upgraded shares of NVIDIA to a "hold" rating in a research report on Friday, August 1st. Oppenheimer raised their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $182.67 on Friday. The firm has a market cap of $4.46 trillion, a PE ratio of 58.93, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.88. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company's fifty day simple moving average is $159.82 and its two-hundred day simple moving average is $133.80.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue was up 69.2% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. As a group, equities analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's payout ratio is presently 1.29%.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the sale, the chief financial officer owned 2,956,876 shares of the company's stock, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $182.38, for a total transaction of $13,678,500.00. Following the sale, the chief executive officer directly owned 73,223,225 shares in the company, valued at $13,354,451,775.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,687,440 shares of company stock worth $862,095,782 in the last ninety days. Insiders own 4.17% of the company's stock.

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.

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