NVIDIA Co. (NASDAQ:NVDA) Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 900.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,113,000 shares of the computer hardware maker’s stock after acquiring an additional 1,901,693 shares during the period. NVIDIA makes up approximately 5.2% of Oregon Public Employees Retirement Fund’s holdings, making the stock its 2nd biggest holding. Oregon Public Employees Retirement Fund’s holdings in NVIDIA were worth $261,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after acquiring an additional 163,482,580 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of NVIDIA by 696.6% during the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock valued at $10,137,521,000 after purchasing an additional 71,757,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of NVIDIA by 829.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,055,653 shares of the computer hardware maker’s stock valued at $7,913,435,000 after purchasing an additional 57,160,191 shares during the period. Rhumbline Advisers increased its stake in NVIDIA by 892.0% during the 2nd quarter. Rhumbline Advisers now owns 46,737,202 shares of the computer hardware maker’s stock worth $5,773,914,000 after purchasing an additional 42,025,613 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in NVIDIA by 741.8% during the 2nd quarter. Van ECK Associates Corp now owns 40,008,518 shares of the computer hardware maker’s stock worth $4,942,652,000 after buying an additional 35,255,679 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $122.85 on Friday. The company has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 71.84, a PEG ratio of 1.05 and a beta of 1.67. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The stock’s 50 day moving average is $116.03 and its 200-day moving average is $108.96.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 122.4% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid 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 Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a report on Monday, August 5th. Raymond James boosted their price target on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Bank of America reiterated a “buy” rating and set a $165.00 price objective on shares of NVIDIA in a report on Thursday, September 5th. Jefferies Financial Group boosted their target price on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Argus raised their price target on shares of NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.10.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Mark A. Stevens sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the transaction, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The disclosure for this sale can be found here. Insiders sold 4,077,403 shares of company stock valued at $486,699,184 in the last quarter. Company insiders own 4.23% of the company’s stock.

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.