Employees Retirement System of Texas boosted its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,996,011 shares of the computer hardware maker's stock after purchasing an additional 84,514 shares during the quarter. NVIDIA comprises about 4.6% of Employees Retirement System of Texas' holdings, making the stock its 2nd largest position. Employees Retirement System of Texas' holdings in NVIDIA were worth $536,624,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of NVIDIA during the 4th quarter valued at about $43,515,504,000. Northern Trust Corp increased its stake in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NVIDIA by 11.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,898,191 shares of the computer hardware maker's stock valued at $26,978,618,000 after acquiring an additional 20,494,402 shares during the last quarter. Finally, Capital International Investors increased its stake in shares of NVIDIA by 34.7% during the 4th quarter. Capital International Investors now owns 62,883,868 shares of the computer hardware maker's stock valued at $8,445,182,000 after acquiring an additional 16,189,550 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.
Insider Buying and Selling at NVIDIA
In related news, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,257,983 shares of company stock valued at $172,973,349 in the last three months. Corporate insiders own 4.17% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. HSBC downgraded shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Bank of America boosted their target price on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Truist Financial boosted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, DA Davidson boosted their target price on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus target price of $171.66.
Check Out Our Latest Stock Report on NVDA
NVIDIA Stock Performance
Shares of NVDA opened at $139.99 on Friday. The business's 50 day moving average is $117.82 and its two-hundred day moving average is $126.42. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The firm has a market cap of $3.42 trillion, a price-to-earnings ratio of 55.09, a PEG ratio of 1.76 and a beta of 2.12. 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 (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The business's revenue for the quarter was up 69.2% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.
NVIDIA Company Profile
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Free Report)
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.
See Also
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