Kentucky State Teachers Retirement System Bolsters Investment in NVIDIA Co. (NASDAQ: NVDA)

Kentucky State Teachers Retirement System Bolsters Investment in NVIDIA Co. (NASDAQ: NVDA)


Teachers Retirement System of The State of Kentucky grew its holdings in NVIDIA Co. (NASDAQ:NVDAFree Report) by 1.1% during the 3rd quarter, Holdings Channel reports. The firm owned 477,791 shares of the computer hardware maker’s stock after purchasing an additional 5,132 shares during the period. NVIDIA makes up approximately 2.1% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 4th biggest position. Teachers Retirement System of The State of Kentucky’s holdings in NVIDIA were worth $207,835,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NVDA. Norges Bank bought a new position in NVIDIA during the 4th quarter worth approximately $3,900,874,000. Moneta Group Investment Advisors LLC boosted its stake in NVIDIA by 160,446.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after acquiring an additional 19,574,443 shares during the last quarter. Morgan Stanley raised its holdings in NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after buying an additional 4,621,002 shares during the period. Barclays PLC raised its holdings in NVIDIA by 55.7% during the 2nd quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock worth $3,240,769,000 after buying an additional 2,740,850 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in NVIDIA by 58,042.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,855,904 shares of the computer hardware maker’s stock worth $785,081,000 after buying an additional 1,852,712 shares during the period. Institutional investors own 64.79% of the company’s stock.

NVIDIA Trading Down 0.1 %

NVIDIA stock opened at $878.37 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. NVIDIA Co. has a one year low of $238.94 and a one year high of $974.00. The stock has a market capitalization of $2.20 trillion, a PE ratio of 73.56, a price-to-earnings-growth ratio of 1.40 and a beta of 1.73. The business’s fifty day moving average is $706.74 and its 200 day moving average is $547.32.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the firm posted $0.65 earnings per share. NVIDIA’s revenue was up 265.3% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Co. will post 21.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend is Tuesday, March 5th. NVIDIA’s dividend payout ratio is 1.34%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 12,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the transaction, the director now owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the transaction, the director now owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $484.62, for a total value of $218,079.00. Following the completion of the transaction, the insider now directly owns 50,961 shares in the company, valued at approximately $24,696,719.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,774 shares of company stock valued at $74,323,328. 3.99% of the stock is owned by company insiders.

Analyst Ratings Changes

NVDA has been the topic of several research analyst reports. Craig Hallum raised their target price on shares of NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. TD Cowen raised their target price on shares of NVIDIA from $700.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Sanford C. Bernstein lifted their price objective on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. HSBC lifted their price objective on shares of NVIDIA from $835.00 to $880.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $900.00 price objective on shares of NVIDIA in a report on Monday, March 4th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $829.66.

View Our Latest Stock Report on NVDA

About NVIDIA

(Free Report)

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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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)



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