State of New Jersey Common Pension Fund D Trims Position in NVIDIA Corporation $NVDA

Key Points

• State of New Jersey Common Pension Fund D cut its NVIDIA stake by 2.5% in the fourth quarter, but NVIDIA remains its largest holding at about 5.6% of the portfolio, worth roughly $1.55 billion.
• NVIDIA reported a strong quarterly update, posting $1.87 EPS on $81.62 billion in revenue, both above estimates, with revenue up 85.2% year over year. The company also announced an $80 billion share buyback and raised its quarterly dividend from $0.01 to $0.25.
• Despite some insider selling and mixed short-term market reaction, analysts remain broadly bullish on NVDA, with multiple firms raising price targets and the stock carrying a consensus rating of Buy and an average price target of $303.27.

State of New Jersey Common Pension Fund D reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,296,406 shares of the computer hardware maker's stock after selling 209,831 shares during the quarter. NVIDIA accounts for approximately 5.6% of State of New Jersey Common Pension Fund D's portfolio, making the stock its largest holding. State of New Jersey Common Pension Fund D's holdings in NVIDIA were worth $1,547,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp grew its stake in shares of NVIDIA by 1.0% during the second quarter. State Street Corp now owns 978,208,862 shares of the computer hardware maker's stock valued at $154,556,803,000 after buying an additional 9,554,857 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of NVIDIA by 1.5% in the second quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker's stock worth $91,150,170,000 after purchasing an additional 8,521,936 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA in the second quarter worth about $51,386,863,000. Legal & General Group Plc grew its stake in shares of NVIDIA by 1.5% in the third quarter. Legal & General Group Plc now owns 181,203,035 shares of the computer hardware maker's stock worth $33,808,862,000 after purchasing an additional 2,609,560 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of NVIDIA by 16.1% in the third quarter. Capital Research Global Investors now owns 165,377,852 shares of the computer hardware maker's stock worth $30,855,564,000 after purchasing an additional 22,896,705 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Trending Headlines about NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: NVIDIA delivered a record quarter with massive revenue growth, strong guidance, and record data center sales. The Tech Download: What you might have missed in Nvidia's earnings — a $200 billion opportunity and edge computing
• Positive Sentiment: The company raised its dividend sharply and approved an $80 billion buyback, signaling confidence in future cash generation. Nvidia Just Raised Its Dividend By 2,400% -- and That Wasn't Even the Biggest News From Its Earnings Report
• Positive Sentiment: Wall Street remains broadly bullish, with multiple analysts raising price targets after earnings. Nvidia stock continues to struggle after earnings, but analysts remain firmly bullish
• Neutral Sentiment: Despite the strong report, the market seems to be digesting the results rather than rewarding them, suggesting investors may think the bar was already very high. Nvidia Stock Misses Out on Friday's Rally. Here's How Much Traders See It Moving Next Week
• Negative Sentiment: Some investors remain worried about valuation, competition, and the possibility that AI spending growth could slow from current extreme levels. Why Nvidia Stock Is Barely Moving After Earnings Crushed Expectations

Insiders Place Their Bets

In other news, Director John Dabiri sold 3,004 shares of NVIDIA stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $184.90, for a total transaction of $555,439.60. Following the completion of the transaction, the director directly owned 14,788 shares in the company, valued at approximately $2,734,301.20. This trade represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 300,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $182.25, for a total transaction of $54,675,000.00. Following the transaction, the executive vice president owned 3,018,547 shares of the company's stock, valued at $550,130,190.75. The trade was a 9.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 906,336 shares of company stock valued at $162,802,518 over the last ninety days. 4.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on NVDA. Fundamental Research set a $218.00 target price on NVIDIA in a research note on Thursday, February 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $350.00 target price on shares of NVIDIA in a research note on Thursday. Benchmark reissued a "buy" rating and issued a $335.00 target price (up from $250.00) on shares of NVIDIA in a research note on Thursday. CICC Research raised their target price on NVIDIA from $240.60 to $268.30 and gave the stock an "outperform" rating in a research note on Friday. Finally, Melius Research set a $400.00 target price on NVIDIA in a research note on Thursday. Three analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of "Buy" and a consensus price target of $303.27.

NVIDIA Stock Performance

Shares of NVDA opened at $215.33 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 3.24. NVIDIA Corporation has a one year low of $129.16 and a one year high of $236.54. The company has a 50-day simple moving average of $196.10 and a two-hundred day simple moving average of $189.06. The firm has a market capitalization of $5.21 trillion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 0.67 and a beta of 2.25.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, topping the consensus estimate of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The business had revenue of $81.62 billion during the quarter, compared to analyst estimates of $78.42 billion. During the same period last year, the business posted $0.81 earnings per share. NVIDIA's quarterly revenue was up 85.2% compared to the same quarter last year. On average, analysts anticipate that NVIDIA Corporation will post 7.98 EPS for the current fiscal year.

NVIDIA declared that its board has initiated a stock buyback plan on Wednesday, May 20th that allows the company to buyback $80.00 billion in shares. This buyback authorization allows the computer hardware maker to purchase up to 1.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are undervalued.

NVIDIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Thursday, June 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. This is a boost from NVIDIA's previous quarterly dividend of $0.01. The ex-dividend date is Thursday, June 4th. NVIDIA's dividend payout ratio (DPR) is 15.31%.

NVIDIA Company Profile

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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