Louisiana State Employees Retirement System Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Louisiana State Employees Retirement System lowered its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,046,200 shares of the computer hardware maker's stock after selling 63,200 shares during the period. NVIDIA accounts for 5.2% of Louisiana State Employees Retirement System's holdings, making the stock its 2nd largest holding. Louisiana State Employees Retirement System's holdings in NVIDIA were worth $274,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of NVDA. AMF Tjanstepension AB grew its stake in shares of NVIDIA by 2.2% in the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker's stock worth $976,348,000 after purchasing an additional 169,445 shares during the last quarter. Wealth Group Ltd. boosted its holdings in NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker's stock valued at $680,000 after acquiring an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock valued at $14,650,000 after purchasing an additional 350 shares during the period. Total Wealth Planning LLC lifted its position in shares of NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker's stock worth $276,000 after purchasing an additional 78 shares during the period. Finally, McNamara Financial Services Inc. bought a new stake in shares of NVIDIA in the 3rd quarter valued at $2,004,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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NVIDIA Price Performance

Shares of NASDAQ NVDA traded down $1.98 during trading hours on Monday, reaching $119.69. 63,518,994 shares of the stock traded hands, compared to its average volume of 320,422,608. The company has a market capitalization of $2.92 trillion, a P/E ratio of 47.10, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company's 50-day simple moving average is $129.26 and its two-hundred day simple moving average is $131.23. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. Equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

Insider Buying and Selling at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares of the company's stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Dabiri sold 2,663 shares of the business's stock in a transaction 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 transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.23% of the company's stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. Mizuho cut their price target on shares of NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a research report on Friday. Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. Bank of America boosted their price target on NVIDIA from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. Finally, Barclays increased their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $171.51.

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.