State of Alaska Department of Revenue Has $488.65 Million Stake in NVIDIA Corporation $NVDA

State of Alaska Department of Revenue cut its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 3.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,092,940 shares of the computer hardware maker’s stock after selling 125,486 shares during the period. NVIDIA comprises approximately 5.2% of State of Alaska Department of Revenue’s portfolio, making the stock its 2nd largest holding. State of Alaska Department of Revenue’s holdings in NVIDIA were worth $488,652,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Pachira Investments Inc. lifted its stake in shares of NVIDIA by 1.0% in the second quarter. Pachira Investments Inc. now owns 6,450 shares of the computer hardware maker’s stock worth $1,019,000 after buying an additional 63 shares in the last quarter. HFG Wealth Management LLC lifted its stake in shares of NVIDIA by 3.4% in the second quarter. HFG Wealth Management LLC now owns 2,075 shares of the computer hardware maker’s stock worth $328,000 after buying an additional 68 shares in the last quarter. Hidden Cove Wealth Management LLC lifted its stake in shares of NVIDIA by 0.3% in the second quarter. Hidden Cove Wealth Management LLC now owns 23,778 shares of the computer hardware maker’s stock worth $3,757,000 after buying an additional 69 shares in the last quarter. Burkett Financial Services LLC lifted its stake in shares of NVIDIA by 1.3% in the second quarter. Burkett Financial Services LLC now owns 5,450 shares of the computer hardware maker’s stock worth $861,000 after buying an additional 70 shares in the last quarter. Finally, Guided Capital Wealth Management LLC lifted its stake in shares of NVIDIA by 0.3% in the second quarter. Guided Capital Wealth Management LLC now owns 27,858 shares of the computer hardware maker’s stock worth $4,401,000 after buying an additional 70 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $185.79, for a total transaction of $13,934,250.00. Following the completion of the transaction, the chief executive officer directly owned 70,858,203 shares of the company’s stock, valued at approximately $13,164,745,535.37. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 30,500 shares of the firm’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $176.40, for a total transaction of $5,380,200.00. Following the transaction, the chief financial officer directly owned 2,883,402 shares of the company’s stock, valued at $508,632,112.80. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,898,491 shares of company stock valued at $686,333,234. Corporate insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NVDA shares. Loop Capital increased their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. Wall Street Zen upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Citigroup restated a “buy” rating and set a $210.00 price objective (up previously from $200.00) on shares of NVIDIA in a research report on Tuesday, September 30th. Phillip Securities upgraded shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 14th. Finally, Rosenblatt Securities restated a “buy” rating and set a $215.00 price objective on shares of NVIDIA in a research report on Tuesday, September 23rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.26.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $189.11 on Thursday. The firm has a fifty day moving average price of $178.67 and a 200-day moving average price of $149.57. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.21 and a quick ratio of 3.60. The stock has a market cap of $4.60 trillion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 1.34 and a beta of 2.12. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $191.05.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The firm had revenue of $46.74 billion during the quarter, compared to analysts’ expectations of $45.65 billion. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. The company’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. NVIDIA has set its Q3 2026 guidance at EPS. Equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is 1.14%.

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.