NVIDIA Corporation (NASDAQ:NVDA) is Retirement Systems of Alabama's 3rd Largest Position

Retirement Systems of Alabama lowered its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,767,415 shares of the computer hardware maker's stock after selling 88,397 shares during the quarter. NVIDIA makes up 3.7% of Retirement Systems of Alabama's holdings, making the stock its 3rd largest position. Retirement Systems of Alabama's holdings in NVIDIA were worth $950,212,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wealth Group Ltd. boosted its holdings in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after buying an additional 100 shares during the last quarter. Tallon Kerry Patrick acquired a new stake in shares of NVIDIA in the 4th quarter worth $972,000. Capital & Planning LLC increased its holdings in shares of NVIDIA by 16.9% during the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock worth $1,021,000 after buying an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. lifted its stake in shares of NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after purchasing an additional 104 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after purchasing an additional 35,815 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on NVDA shares. Susquehanna restated a "positive" rating and issued a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Barclays raised their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. DA Davidson raised their price target on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Finally, Mizuho lifted their target price on NVIDIA from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $176.47.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,296,844 shares of company stock worth $624,019,677. 4.17% of the stock is owned by insiders.

NVIDIA Trading Down 0.7%

Shares of NVDA opened at $158.24 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a 50 day simple moving average of $137.37 and a 200-day simple moving average of $127.97. The stock has a market cap of $3.86 trillion, a price-to-earnings ratio of 51.05, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $160.98.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the business earned $0.61 earnings per share. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. Equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

NVIDIA Profile

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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