NVIDIA Co. (NASDAQ:NVDA) is Employees Retirement System of Texas’ 2nd Largest Position

Employees Retirement System of Texas increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 875.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,379,820 shares of the computer hardware maker’s stock after purchasing an additional 3,930,809 shares during the quarter. NVIDIA makes up approximately 5.1% of Employees Retirement System of Texas’ investment portfolio, making the stock its 2nd largest position. Employees Retirement System of Texas’ holdings in NVIDIA were worth $541,083,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Hamilton Wealth LLC lifted its stake in shares of NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the last quarter. Brooklyn FI LLC lifted its stake in NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock worth $442,000 after acquiring an additional 12 shares in the last quarter. Curran Financial Partners LLC lifted its stake in NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 12 shares in the last quarter. Beacon Bridge Wealth Partners LLC lifted its stake in NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after acquiring an additional 12 shares in the last quarter. Finally, WFA Asset Management Corp lifted its stake in NVIDIA by 10.1% during the 1st quarter. WFA Asset Management Corp now owns 153 shares of the computer hardware maker’s stock worth $138,000 after acquiring an additional 14 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Down 0.7 %

NVIDIA stock opened at $140.52 on Tuesday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $144.42. The stock has a 50 day moving average of $124.46 and a two-hundred day moving average of $114.81. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 65.91, a PEG ratio of 1.50 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share for the quarter, topping 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 company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. As a group, research analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

NVIDIA announced that its board has approved a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NVDA shares. DA Davidson reissued a “neutral” rating and set a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Wells Fargo & Company increased their target price on NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research note on Monday, August 26th. William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $140.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.07.

Insiders Place Their Bets

In other NVIDIA 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 completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,636,270 shares of company stock valued at $305,367,927. 4.23% of the stock is owned by company insiders.

About NVIDIA

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.