Louisiana State Employees Retirement System decreased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,041,600 shares of the computer hardware maker's stock after selling 4,600 shares during the period. NVIDIA accounts for about 4.4% of Louisiana State Employees Retirement System's investment portfolio, making the stock its 3rd biggest position. Louisiana State Employees Retirement System's holdings in NVIDIA were worth $221,269,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of NVDA. Condor Capital Management increased its position in shares of NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after acquiring an additional 89 shares during the period. Kelly Financial Services LLC increased its position in shares of NVIDIA by 2.0% in the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after acquiring an additional 94 shares during the period. Foundry Financial Group Inc. increased its position in shares of NVIDIA by 2.2% in the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock valued at $589,000 after acquiring an additional 96 shares during the period. Mendel Capital Management LLC increased its position in shares of NVIDIA by 0.8% in the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after acquiring an additional 96 shares during the period. Finally, Wallace Hart LLC increased its position in shares of NVIDIA by 3.9% in the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock valued at $349,000 after acquiring an additional 97 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.
Insider Buying and Selling at NVIDIA
In other news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares of the company's stock, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Friday, August 8th. The stock was sold at an average price of $182.38, for a total transaction of $13,678,500.00. Following the sale, the chief executive officer directly owned 73,223,225 shares of the company's stock, valued at approximately $13,354,451,775.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,687,440 shares of company stock valued at $862,095,782. Corporate insiders own 4.17% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have weighed in on NVDA. BNP Paribas raised NVIDIA to a "hold" rating in a research report on Friday, August 1st. TD Cowen increased their price target on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Loop Capital increased their target price on shares of NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $183.75.
Check Out Our Latest Stock Report on NVDA
NVIDIA Stock Performance
NASDAQ:NVDA opened at $182.67 on Friday. The company has a fifty day simple moving average of $159.82 and a two-hundred day simple moving average of $133.80. The company has a market cap of $4.46 trillion, a price-to-earnings ratio of 58.93, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.88.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
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. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was 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.
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