Teachers Retirement System of The State of Kentucky Buys 57,047 Shares of NVIDIA Corporation $NVDA

Teachers Retirement System of The State of Kentucky lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,643,301 shares of the computer hardware maker’s stock after acquiring an additional 57,047 shares during the quarter. NVIDIA comprises about 3.6% of Teachers Retirement System of The State of Kentucky’s investment portfolio, making the stock its 3rd biggest holding. Teachers Retirement System of The State of Kentucky’s holdings in NVIDIA were worth $394,861,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NVDA. Condor Capital Management boosted its position in shares of NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after acquiring an additional 89 shares in the last quarter. High Note Wealth LLC boosted its position in NVIDIA by 0.5% in the first quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker’s stock valued at $1,937,000 after buying an additional 91 shares in the last quarter. Kelly Financial Services LLC boosted its position in NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock valued at $513,000 after buying an additional 94 shares in the last quarter. Mendel Capital Management LLC boosted its position in NVIDIA by 0.8% in the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock valued at $1,287,000 after buying an additional 96 shares in the last quarter. Finally, Affiance Financial LLC boosted its position in NVIDIA by 0.7% in the first quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker’s stock valued at $1,479,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was 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 $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,837,440 shares of company stock worth $889,404,782 over the last ninety days. 4.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research report on Thursday, July 10th. They issued a “buy” rating and a $185.00 price target on the stock. Barclays boosted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 17th. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Finally, Oppenheimer boosted their target price on shares of NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $186.33.

NVIDIA Stock Down 0.9%

NVIDIA stock opened at $180.45 on Monday. The stock has a market capitalization of $4.40 trillion, a PE ratio of 58.21, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48. 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 company has a 50 day moving average of $163.96 and a 200-day moving average of $135.52.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 EPS. On average, equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is 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.