Vestcor Inc Purchases 17,954 Shares of NVIDIA Corporation $NVDA

Key Points

• Vestcor Inc increased its holdings in NVIDIA by 3.4%, purchasing an additional 17,954 shares to own a total of 549,413 shares, valued at about $59.5 million.
• NVIDIA has received multiple analyst upgrades, with target prices raised by firms like JPMorgan Chase and Mizuho, reflecting a positive outlook with a consensus target price of $207.69.
• The company recently reported a 55.6% year-over-year revenue growth and a $1.05 EPS, exceeding analyst estimates, while also announcing a quarterly dividend of $0.01 per share.

Vestcor Inc lifted its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 549,413 shares of the computer hardware maker's stock after purchasing an additional 17,954 shares during the quarter. NVIDIA comprises about 2.0% of Vestcor Inc's investment portfolio, making the stock its 3rd biggest position. Vestcor Inc's holdings in NVIDIA were worth $59,545,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Astoria Portfolio Advisors LLC. boosted its holdings in shares of NVIDIA by 0.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after purchasing an additional 864 shares during the last quarter. Centerpoint Advisory Group boosted its holdings in shares of NVIDIA by 2.5% during the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after purchasing an additional 943 shares during the last quarter. GSB Wealth Management LLC raised its position in shares of NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after buying an additional 1,043 shares during the period. Variant Private Wealth LLC raised its position in shares of NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares during the period. Finally, Financial Perspectives Inc raised its position in shares of NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on NVIDIA from $170.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday. Mizuho increased their target price on NVIDIA from $192.00 to $205.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. Evercore ISI raised their price objective on NVIDIA from $190.00 to $214.00 and gave the company an "outperform" rating in a research report on Friday, August 22nd. Jefferies Financial Group raised their price objective on NVIDIA from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Stifel Nicolaus raised their price objective on NVIDIA from $202.00 to $212.00 and gave the company a "buy" rating in a research report on Monday, August 25th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $207.69.

NVIDIA Stock Down 3.3%

NASDAQ:NVDA opened at $174.18 on Friday. The company has a market capitalization of $4.23 trillion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 1.58 and a beta of 2.14. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The stock has a 50-day simple moving average of $170.83 and a 200 day simple moving average of $139.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.96 and a current ratio of 4.21.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. The company had revenue of $46.74 billion during the quarter, compared to the consensus estimate of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.NVIDIA's quarterly revenue was up 55.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. NVIDIA has set its Q3 2026 guidance at EPS. Sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Thursday, September 11th. NVIDIA's payout ratio is presently 1.14%.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The transaction 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 the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,862,440 shares of company stock valued at $896,145,782. 4.17% of the stock is currently owned by company insiders.

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.

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