NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,789,724 shares of the computer hardware maker's stock after selling 958,971 shares during the quarter. NVIDIA makes up about 5.2% of New York State Teachers Retirement System's portfolio, making the stock its 3rd biggest holding. New York State Teachers Retirement System owned approximately 0.09% of NVIDIA worth $2,253,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the 4th quarter worth about $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth about $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA during the 4th quarter worth about $50,000. Bruce G. Allen Investments LLC increased its position in shares of NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in shares of NVIDIA during the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the 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 owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,964,800 shares of company stock valued at $734,906,003. 4.17% of the stock is owned by corporate insiders.

NVIDIA Trading Down 2.5%

Shares of NVDA stock opened at $167.03 on Wednesday. The business's fifty day moving average price is $146.99 and its 200 day moving average price is $129.81. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.25. The firm has a market capitalization of $4.08 trillion, a PE ratio of 53.88, a P/E/G ratio of 1.51 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the company posted $0.61 EPS. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. As a group, sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have weighed in on NVDA shares. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. The Goldman Sachs Group started coverage on NVIDIA in a research report on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price for the company. Jefferies Financial Group lifted their target price on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research report on Thursday, April 3rd. Finally, Needham & Company LLC lifted their target price on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.22.

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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