State of Wyoming Increases Position in NVIDIA Co. (NASDAQ:NVDA)

State of Wyoming grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 113.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 85,056 shares of the computer hardware maker’s stock after purchasing an additional 45,214 shares during the quarter. NVIDIA comprises 1.5% of State of Wyoming’s portfolio, making the stock its 5th biggest holding. State of Wyoming’s holdings in NVIDIA were worth $11,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Norges Bank bought a new position in shares of NVIDIA during the fourth quarter valued at about $43,515,504,000. Northern Trust Corp grew its stake in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. Capital International Investors grew its stake in shares of NVIDIA by 34.7% in the fourth quarter. Capital International Investors now owns 62,883,868 shares of the computer hardware maker’s stock worth $8,445,182,000 after purchasing an additional 16,189,550 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in shares of NVIDIA by 493.2% in the fourth quarter. APG Asset Management N.V. now owns 18,415,785 shares of the computer hardware maker’s stock worth $2,388,272,000 after purchasing an additional 15,311,330 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. DA Davidson raised their target price on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.66.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The stock was 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 $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. Over the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. Company insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $134.28 on Friday. The company has a market cap of $3.28 trillion, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $115.48 and a two-hundred day moving average of $126.52.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up 69.2% on a year-over-year basis. As a group, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.29%.

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.