NVIDIA Corporation $NVDA is Employees Retirement System of Texas’ 3rd Largest Position

Employees Retirement System of Texas lessened its position in NVIDIA Corporation (NASDAQ:NVDA) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,768,129 shares of the computer hardware maker’s stock after selling 25,509 shares during the quarter. NVIDIA makes up 4.8% of Employees Retirement System of Texas’ investment portfolio, making the stock its 3rd largest holding. Employees Retirement System of Texas’ holdings in NVIDIA were worth $595,327,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new position in shares of NVIDIA in the second quarter valued at approximately $28,000. Winnow Wealth LLC acquired a new position in shares of NVIDIA in the second quarter worth $32,000. Longfellow Investment Management Co. LLC increased its position in shares of NVIDIA by 47.9% during the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 67 shares during the period. Spurstone Advisory Services LLC acquired a new stake in shares of NVIDIA in the second quarter valued at $40,000. Finally, Kathleen S. Wright Associates Inc. raised its stake in shares of NVIDIA by 169.3% in the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after acquiring an additional 254 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. Morgan Stanley upped their price target on NVIDIA from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, December 1st. Wall Street Zen upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Hsbc Global Res upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Melius Research boosted their price target on shares of NVIDIA from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, Stifel Nicolaus raised their price objective on shares of NVIDIA from $212.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $258.65.

NVIDIA Trading Down 0.6%

Shares of NVIDIA stock opened at $183.78 on Thursday. The company has a current ratio of 4.47, a quick ratio of 3.71 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $187.10 and a 200-day simple moving average of $173.19. The stock has a market cap of $4.47 trillion, a price-to-earnings ratio of 45.60, a PEG ratio of 0.91 and a beta of 2.29. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $212.19.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping the consensus estimate of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The firm had revenue of $57.01 billion for the quarter, compared to analyst estimates of $54.66 billion. During the same period last year, the business earned $0.81 EPS. NVIDIA’s revenue for the quarter was up 62.5% compared to the same quarter last year. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio is 0.99%.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 626 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $179.42, for a total value of $112,316.92. Following the completion of the sale, the director directly owned 17,792 shares of the company’s stock, valued at approximately $3,192,240.64. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 350,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $181.73, for a total transaction of $63,605,500.00. Following the transaction, the director owned 7,049,803 shares in the company, valued at approximately $1,281,160,699.19. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,029,931 shares of company stock worth $548,443,455. Insiders own 4.17% of the company’s stock.

NVIDIA Company 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.