NVIDIA Co. (NASDAQ:NVDA) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,699,504 shares of the computer hardware maker's stock after selling 5,639,754 shares during the quarter. NVIDIA accounts for about 5.4% of California Public Employees Retirement System's investment portfolio, making the stock its 4th biggest holding. California Public Employees Retirement System owned 0.24% of NVIDIA worth $8,017,046,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NVDA. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter valued at $43,515,504,000. Clear Street Derivatives LLC bought a new stake in shares of NVIDIA in the third quarter worth approximately $4,589,905,000. Proficio Capital Partners LLC raised its holdings in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. GQG Partners LLC lifted its position in NVIDIA by 132.3% during the fourth quarter. GQG Partners LLC now owns 25,697,930 shares of the computer hardware maker's stock valued at $3,450,975,000 after purchasing an additional 14,636,057 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in NVIDIA by 26.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 65,827,070 shares of the computer hardware maker's stock worth $8,840,117,000 after purchasing an additional 13,571,425 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,147 shares of company stock valued at $17,133,207. Corporate insiders own 4.23% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NVDA. William Blair reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Truist Financial boosted their price target on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Wedbush reissued an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Finally, DA Davidson reduced their target price on shares of NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $164.96.

NVIDIA Stock Up 2.6 %

Shares of NVDA traded up $2.89 during trading hours on Friday, hitting $114.50. The company had a trading volume of 189,662,858 shares, compared to its average volume of 300,818,875. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.79 trillion, a PE ratio of 45.06, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a one year low of $86.62 and a one year high of $195.95. The company's fifty day moving average price is $110.85 and its two-hundred day moving average price is $128.19.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. As a group, equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's dividend payout ratio is currently 1.36%.

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.