NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by New Mexico Educational Retirement Board

Key Points

• The New Mexico Educational Retirement Board reduced its stake in NVIDIA Corporation by 2.3%, selling 26,500 shares and now holding approximately 1.15 million shares valued at around $124 million.
• Mergers and acquisitions among institutional investors showed an increase, with multiple firms like Rehmann Capital Advisory and Harvey Capital Management raising their NVIDIA holdings in the first quarter.
• NVIDIA recently announced a quarterly dividend of $0.01 per share, representing an annual yield of 0.0%, with a payout ratio of 1.29%.

New Mexico Educational Retirement Board trimmed its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,146,380 shares of the computer hardware maker's stock after selling 26,500 shares during the quarter. NVIDIA accounts for about 4.5% of New Mexico Educational Retirement Board's portfolio, making the stock its 3rd biggest holding. New Mexico Educational Retirement Board's holdings in NVIDIA were worth $124,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Rehmann Capital Advisory Group lifted its holdings in NVIDIA by 5.6% in the 1st quarter. Rehmann Capital Advisory Group now owns 123,694 shares of the computer hardware maker's stock valued at $13,406,000 after acquiring an additional 6,523 shares during the last quarter. Harvey Capital Management Inc. lifted its holdings in NVIDIA by 10.7% in the 1st quarter. Harvey Capital Management Inc. now owns 478,197 shares of the computer hardware maker's stock valued at $51,827,000 after acquiring an additional 46,402 shares during the last quarter. Slagle Financial LLC lifted its holdings in NVIDIA by 3.3% in the 1st quarter. Slagle Financial LLC now owns 71,717 shares of the computer hardware maker's stock valued at $7,773,000 after acquiring an additional 2,278 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in NVIDIA by 30.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 28,418 shares of the computer hardware maker's stock valued at $2,919,000 after acquiring an additional 6,713 shares during the last quarter. Finally, Dogwood Wealth Management LLC lifted its stake in NVIDIA by 9.4% during the first quarter. Dogwood Wealth Management LLC now owns 15,399 shares of the computer hardware maker's stock valued at $1,669,000 after buying an additional 1,317 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on NVDA. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Bank of America upped their price objective on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Truist Financial upped their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Finally, Rosenblatt Securities upped their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $182.03.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock valued at $800,141,003 over the last quarter. 4.17% of the stock is currently owned by insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $173.72 on Monday. The firm's 50-day moving average is $155.30 and its 200-day moving average is $132.28. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company has a market cap of $4.24 trillion, a price-to-earnings ratio of 56.04, a PEG ratio of 1.53 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

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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