NVIDIA Co. (NASDAQ:NVDA) is New Mexico Educational Retirement Board’s 10th Largest Position

New Mexico Educational Retirement Board decreased its holdings in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,528 shares of the computer hardware maker’s stock after selling 6,800 shares during the quarter. NVIDIA makes up approximately 1.0% of New Mexico Educational Retirement Board’s holdings, making the stock its 10th largest holding. New Mexico Educational Retirement Board’s holdings in NVIDIA were worth $20,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of NVIDIA by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 198,462,079 shares of the computer hardware maker’s stock valued at $54,152,363,000 after purchasing an additional 2,446,529 shares in the last quarter. BlackRock Inc. lifted its stake in shares of NVIDIA by 2.1% in the 4th quarter. BlackRock Inc. now owns 177,839,722 shares of the computer hardware maker’s stock valued at $52,304,441,000 after purchasing an additional 3,591,440 shares in the last quarter. Norges Bank acquired a new position in shares of NVIDIA in the 4th quarter valued at about $6,279,217,000. Charles Schwab Investment Management Inc. lifted its stake in shares of NVIDIA by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,269,735 shares of the computer hardware maker’s stock valued at $3,347,921,000 after purchasing an additional 243,671 shares in the last quarter. Finally, Edgewood Management LLC lifted its stake in shares of NVIDIA by 8.6% in the 1st quarter. Edgewood Management LLC now owns 12,195,984 shares of the computer hardware maker’s stock valued at $3,327,796,000 after purchasing an additional 964,349 shares in the last quarter. Hedge funds and other institutional investors own 62.58% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $121.39 on Monday. The company has a market cap of $302.26 billion, a P/E ratio of 39.80, a PEG ratio of 3.91 and a beta of 1.72. The stock has a fifty day moving average price of $157.27 and a 200 day moving average price of $180.67. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 3.11. NVIDIA Co. has a 12 month low of $119.46 and a 12 month high of $346.47.

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NVIDIA (NASDAQ:NVDA – Get Rating) last announced its quarterly earnings results on Wednesday, August 24th. The computer hardware maker reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). NVIDIA had a return on equity of 36.83% and a net margin of 26.03%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same quarter last year, the firm posted $0.89 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts forecast that NVIDIA Co. will post 2.53 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 8th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.13%. NVIDIA’s dividend payout ratio (DPR) is presently 5.25%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NVDA shares. Piper Sandler reduced their price target on NVIDIA from $235.00 to $200.00 in a research report on Thursday, September 1st. Wedbush reissued a “neutral” rating and set a $160.00 price target on shares of NVIDIA in a research report on Wednesday, September 21st. TheStreet lowered NVIDIA from a “b-” rating to a “c+” rating in a research report on Thursday, September 15th. Bank of America reduced their price target on NVIDIA from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Finally, Needham & Company LLC reduced their price target on NVIDIA from $185.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, September 2nd. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $214.62.

About NVIDIA

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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.