Arizona State Retirement System Sells 421,549 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Arizona State Retirement System lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 7,221,247 shares of the computer hardware maker's stock after selling 421,549 shares during the period. NVIDIA makes up approximately 5.0% of Arizona State Retirement System's portfolio, making the stock its 2nd biggest holding. Arizona State Retirement System's holdings in NVIDIA were worth $782,639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in NVIDIA in the 4th quarter valued at $43,515,504,000. GAMMA Investing LLC grew its stake in shares of NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp raised its holdings in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after purchasing an additional 23,948,733 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in NVIDIA during the fourth quarter worth about $2,987,733,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 0.8%

NVDA stock opened at $180.77 on Friday. The company's 50 day moving average is $158.85 and its 200 day moving average is $133.52. The stock has a market cap of $4.41 trillion, a price-to-earnings ratio of 58.31, a price-to-earnings-growth ratio of 1.58 and a beta of 2.14. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.88.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the company earned $0.61 EPS. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is 1.29%.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,537,440 shares of company stock valued at $835,035,782 over the last 90 days. Company insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Loop Capital lifted their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Wedbush restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. DA Davidson lifted their target price on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Finally, Bank of America increased their price target on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $183.75.

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.

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