Arizona State Retirement System Acquires 564,354 Shares of NVIDIA Co. (NASDAQ:NVDA)

Arizona State Retirement System raised its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,642,796 shares of the computer hardware maker's stock after purchasing an additional 564,354 shares during the period. NVIDIA comprises 6.3% of Arizona State Retirement System's holdings, making the stock its 2nd largest position. Arizona State Retirement System's holdings in NVIDIA were worth $1,026,351,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVDA. Tacita Capital Inc acquired a new position in NVIDIA in the fourth quarter valued at approximately $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $34,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA in the 4th quarter valued at approximately $40,000. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the 4th quarter worth about $46,000. Finally, 1620 Investment Advisors Inc. grew its position in NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker's stock valued at $51,000 after acquiring an additional 248 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NVDA shares. Citigroup cut their price objective on NVIDIA from $163.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday. Benchmark reissued a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. TD Cowen cut their price target on NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Finally, Truist Financial increased their target price on shares of NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Six analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus target price of $168.39.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 in the last 90 days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Up 1.8 %

NVDA traded up $2.03 during trading hours on Monday, reaching $112.96. 46,901,922 shares of the stock traded hands, compared to its average volume of 313,313,232. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95. The company has a market cap of $2.76 trillion, a price-to-earnings ratio of 44.03, a PEG ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm's fifty day simple moving average is $118.95 and its two-hundred day simple moving average is $130.40.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's payout ratio is 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.