State of Alaska Department of Revenue Boosts Stake in NVIDIA Corporation (NASDAQ:NVDA)

State of Alaska Department of Revenue increased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,218,426 shares of the computer hardware maker's stock after buying an additional 71,495 shares during the quarter. NVIDIA comprises approximately 4.0% of State of Alaska Department of Revenue's holdings, making the stock its 3rd largest position. State of Alaska Department of Revenue's holdings in NVIDIA were worth $348,812,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter worth $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter valued at $38,000. Copia Wealth Management acquired a new position in NVIDIA during the fourth quarter valued at $50,000. Bruce G. Allen Investments LLC raised its position in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares during the period. Finally, LSV Asset Management acquired a new position in NVIDIA during the fourth quarter valued at $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director directly owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NVDA has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $160.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Mizuho upped their price target on NVIDIA from $170.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday. Citigroup upped their price target on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Monday. William Blair reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $176.47.

NVIDIA Stock Performance

Shares of NVDA stock traded down $1.10 during mid-day trading on Monday, reaching $158.24. The stock had a trading volume of 139,752,171 shares, compared to its average volume of 267,843,050. The firm's 50 day simple moving average is $136.38 and its 200 day simple moving average is $127.81. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a one year low of $86.62 and a one year high of $160.98. The firm has a market cap of $3.86 trillion, a PE ratio of 51.05, a P/E/G ratio of 1.41 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the business posted $0.61 EPS. NVIDIA's revenue was up 69.2% compared to the same quarter last year. On average, analysts forecast 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 issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's payout ratio 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.