Illinois Municipal Retirement Fund Has $164.09 Million Position in NVIDIA Corporation (NASDAQ:NVDA)

Illinois Municipal Retirement Fund boosted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,514,006 shares of the computer hardware maker's stock after buying an additional 4,757 shares during the period. NVIDIA comprises 2.4% of Illinois Municipal Retirement Fund's investment portfolio, making the stock its 3rd largest holding. Illinois Municipal Retirement Fund's holdings in NVIDIA were worth $164,088,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc bought a new position in shares of NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth about $38,000. Copia Wealth Management bought a new position in NVIDIA in the fourth quarter worth approximately $50,000. Bruce G. Allen Investments LLC raised its stake 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 worth $53,000 after acquiring an additional 327 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NVDA. DA Davidson upped their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Truist Financial lifted their target price on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Bank of America lifted their price objective on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Finally, Mizuho set a $192.00 price objective on shares of NVIDIA and gave the company an "outperform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $181.22.

Insider Activity

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $172.52, for a total transaction of $12,939,000.00. Following the completion of the sale, the chief executive officer owned 74,348,225 shares in the company, valued at approximately $12,826,555,777. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 27,650 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,964,800 shares of company stock worth $734,906,003. Corporate insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA traded down $1.13 during mid-day trading on Monday, reaching $171.28. The stock had a trading volume of 97,455,236 shares, compared to its average volume of 263,384,986. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.18 trillion, a P/E ratio of 55.25, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. The business's 50 day moving average price is $146.99 and its 200 day moving average price is $129.81. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $174.25.

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

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

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.