Louisiana State Employees Retirement System Has $78.58 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 4th, 2023

Louisiana State Employees Retirement System decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 0.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 282,900 shares of the computer hardware maker’s stock after selling 300 shares during the period. NVIDIA makes up about 2.0% of Louisiana State Employees Retirement System’s holdings, making the stock its 4th largest holding. Louisiana State Employees Retirement System’s holdings in NVIDIA were worth $78,581,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Lake Hills Wealth Management LLC bought a new stake in NVIDIA during the first quarter valued at $281,000. Proficio Capital Partners LLC boosted its stake in NVIDIA by 178,831.3% during the first quarter. Proficio Capital Partners LLC now owns 12,179,851 shares of the computer hardware maker’s stock valued at $12,235,000 after buying an additional 12,173,044 shares during the period. Boston Trust Walden Corp bought a new stake in NVIDIA during the first quarter valued at $290,000. Wendell David Associates Inc. bought a new stake in NVIDIA during the first quarter valued at $233,000. Finally, Altus Wealth Management LLC bought a new stake in NVIDIA during the first quarter valued at $321,000. Institutional investors own 64.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. Craig Hallum upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research report on Thursday, May 25th. Bank of America raised their price target on NVIDIA from $450.00 to $500.00 in a research report on Wednesday, May 31st. Susquehanna raised their price target on NVIDIA from $350.00 to $450.00 in a research report on Thursday, May 25th. Citigroup raised their price target on NVIDIA from $363.00 to $420.00 in a research report on Thursday, May 25th. Finally, TheStreet upgraded NVIDIA from a “c+” rating to a “b-” rating in a research report on Monday, March 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $392.70.

NVIDIA Stock Performance

Shares of NVDA opened at $424.13 on Tuesday. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average price is $354.97 and its 200-day moving average price is $265.68. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $439.90. The stock has a market cap of $1.05 trillion, a P/E ratio of 220.90, a P/E/G ratio of 2.91 and a beta of 1.74.

NVIDIA (NASDAQ:NVDA – Free Report) last issued its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The firm had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same period in the previous year, the firm posted $1.18 EPS. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 6.31 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were issued a $0.04 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is currently 8.33%.

Insider Buying and Selling

In related news, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the completion of the transaction, the chief financial officer now directly owns 538,745 shares in the company, valued at approximately $219,005,229.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the sale, the executive vice president now directly owns 139,860 shares in the company, valued at approximately $42,657,300. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Colette Kress sold 6,124 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the sale, the chief financial officer now owns 538,745 shares of the company’s stock, valued at $219,005,229.95. The disclosure for this sale can be found here. Insiders sold a total of 368,271 shares of company stock worth $147,115,953 in the last three months. Insiders own 3.99% of the company’s stock.

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.