Teachers Retirement System of The State of Kentucky decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,728,893 shares of the computer hardware maker’s stock after selling 89,517 shares during the period. NVIDIA comprises 3.9% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 2nd largest holding. Teachers Retirement System of The State of Kentucky’s holdings in NVIDIA were worth $452,836,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Asset Allocation Strategies LLC lifted its holdings in NVIDIA by 38.1% during the third quarter. Asset Allocation Strategies LLC now owns 6,944 shares of the computer hardware maker’s stock valued at $843,000 after purchasing an additional 1,915 shares in the last quarter. Chiron Investment Management LLC increased its position in NVIDIA by 2.3% in the third quarter. Chiron Investment Management LLC now owns 111,878 shares of the computer hardware maker’s stock worth $13,586,000 after purchasing an additional 2,561 shares during the last quarter. Brown Financial Advisors raised its stake in NVIDIA by 16.4% during the third quarter. Brown Financial Advisors now owns 34,822 shares of the computer hardware maker’s stock valued at $4,229,000 after purchasing an additional 4,899 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of NVIDIA by 13.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 630,057 shares of the computer hardware maker’s stock valued at $78,339,000 after acquiring an additional 72,548 shares during the last quarter. Finally, Gould Capital LLC lifted its stake in shares of NVIDIA by 10.7% in the 3rd quarter. Gould Capital LLC now owns 2,563 shares of the computer hardware maker’s stock valued at $311,000 after purchasing an additional 247 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently commented on NVDA. Mizuho boosted their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. DA Davidson upped their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus boosted their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Morgan Stanley boosted their price target on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.63.
Insider Activity at NVIDIA
In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by insiders.
NVIDIA Trading Up 2.3 %
NASDAQ NVDA opened at $140.83 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm’s fifty day moving average is $138.84 and its two-hundred day moving average is $129.11. NVIDIA Co. has a one year low of $58.58 and a one year high of $153.13. The firm has a market cap of $3.45 trillion, a PE ratio of 55.42, a P/E/G ratio of 2.48 and a beta of 1.64.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue was up 93.6% compared to the same quarter last year. Analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.
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.
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