NVIDIA Co. (NASDAQ:NVDA) is Retirement Systems of Alabama’s 3rd Largest Position

Retirement Systems of Alabama trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,928,450 shares of the computer hardware maker’s stock after selling 375,833 shares during the period. NVIDIA makes up about 4.1% of Retirement Systems of Alabama’s holdings, making the stock its 3rd largest holding. Retirement Systems of Alabama’s holdings in NVIDIA were worth $1,084,271,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the third quarter worth $27,000. Quest Partners LLC acquired a new position in NVIDIA during the second quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA during the second quarter worth $31,000. West Financial Advisors LLC acquired a new position in NVIDIA during the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $147.22 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52-week low of $59.94 and a 52-week high of $153.13. The business’s 50-day moving average price is $138.70 and its 200 day moving average price is $129.34. The firm has a market cap of $3.61 trillion, a P/E ratio of 57.94, a P/E/G ratio of 2.54 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. On average, equities research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

Analyst Ratings Changes

NVDA has been the topic of a number of research reports. Susquehanna upped their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Morgan Stanley increased their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Wells Fargo & Company increased their price objective on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, UBS Group increased their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

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.