NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Retirement Systems of Alabama

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ironwood Wealth Management LLC. raised its position in shares of NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after purchasing an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. raised its position in shares of NVIDIA by 900.0% during the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 3,240 shares during the last quarter. Tobam raised its position in shares of NVIDIA by 811.4% during the 2nd quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock worth $5,126,000 after purchasing an additional 36,937 shares during the last quarter. Forum Financial Management LP raised its position in shares of NVIDIA by 808.0% during the 2nd quarter. Forum Financial Management LP now owns 144,878 shares of the computer hardware maker’s stock worth $17,898,000 after purchasing an additional 128,923 shares during the last quarter. Finally, Heritage Family Offices LLP acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $257,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVDA stock opened at $147.22 on Friday. NVIDIA Co. has a 12 month low of $59.94 and a 12 month high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization 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. The company’s fifty day moving average price is $138.70 and its two-hundred day moving average price is $129.34.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 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 net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. On average, research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction dated 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 directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVDA. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. HSBC lowered their target price on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Evercore ISI lifted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Piper Sandler lifted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.