NVIDIA Corporation (NASDAQ:NVDA) is Teacher Retirement System of Texas’ 3rd Largest Position

Teacher Retirement System of Texas lowered its position in NVIDIA Corporation (NASDAQ:NVDA) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,930,759 shares of the computer hardware maker’s stock after selling 804,109 shares during the quarter. NVIDIA accounts for approximately 3.6% of Teacher Retirement System of Texas’ holdings, making the stock its 3rd biggest holding. Teacher Retirement System of Texas’ holdings in NVIDIA were worth $859,536,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Tacita Capital Inc purchased a new stake in NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the 4th quarter valued at about $38,000. Copia Wealth Management purchased a new stake in NVIDIA in the 4th quarter valued at about $50,000. LSV Asset Management purchased a new stake in NVIDIA in the 4th quarter valued at about $54,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA in the 1st quarter valued at about $51,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $173.50 on Monday. The company has a market cap of $4.23 trillion, a P/E ratio of 55.97, a PEG ratio of 1.53 and a beta of 2.13. The stock has a fifty day moving average price of $150.95 and a 200 day moving average price of $130.80. 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 Corporation has a 12 month low of $86.62 and a 12 month high of $174.72.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 earnings per share. On average, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, June 9th. The stock was 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 owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director 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 quarter, insiders have sold 5,114,800 shares of company stock worth $760,553,003. Insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Wedbush restated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Needham & Company LLC lifted their price objective on NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, Loop Capital lifted their price objective on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. One investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

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.