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

Retirement Systems of Alabama trimmed its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,767,415 shares of the computer hardware maker's stock after selling 88,397 shares during the quarter. NVIDIA accounts for approximately 3.7% of Retirement Systems of Alabama's investment portfolio, making the stock its 3rd biggest holding. Retirement Systems of Alabama's holdings in NVIDIA were worth $950,212,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Wealth Group Ltd. raised its position in shares of NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after purchasing an additional 100 shares during the last quarter. Tallon Kerry Patrick acquired a new position in shares of NVIDIA during the 4th quarter worth about $972,000. Capital & Planning LLC raised its position 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 purchasing an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. increased its holdings in shares of NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock worth $871,000 after buying an additional 104 shares during the last quarter. Finally, Brighton Jones LLC lifted its position in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after buying an additional 35,815 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's 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 of the company's stock, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the company'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 transaction of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,520,246 shares of company stock worth $660,253,045. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Trading Up 0.5%

Shares of NVDA traded up $0.82 on Friday, hitting $164.92. 193,205,730 shares of the stock traded hands, compared to its average volume of 266,417,013. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.02 trillion, a P/E ratio of 53.20, a P/E/G ratio of 1.44 and a beta of 2.13. The stock's 50 day moving average is $140.52 and its two-hundred day moving average is $128.60. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $167.84.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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 net margin of 51.69% and a return on equity of 105.09%. The business's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NVDA shares. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Barclays raised their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Rosenblatt Securities raised their price target on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $177.03.

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.