Retirement Systems of Alabama Acquires 2,603 Shares of NVIDIA Corporation (NVDA)
Retirement Systems of Alabama raised its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 291,092 shares of the computer hardware maker’s stock after acquiring an additional 2,603 shares during the period. Retirement Systems of Alabama’s holdings in NVIDIA Corporation were worth $52,039,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Evercore Wealth Management LLC raised its holdings in NVIDIA Corporation by 36.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after acquiring an additional 206 shares during the last quarter. TB Alternative Assets Ltd. acquired a new stake in NVIDIA Corporation in the 2nd quarter valued at about $116,000. Thompson Davis & CO. Inc. raised its holdings in NVIDIA Corporation by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after acquiring an additional 6 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in NVIDIA Corporation by 186.1% in the 1st quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock valued at $117,000 after acquiring an additional 547 shares during the last quarter. Finally, Hanson McClain Inc. raised its holdings in NVIDIA Corporation by 12.7% in the 2nd quarter. Hanson McClain Inc. now owns 881 shares of the computer hardware maker’s stock valued at $127,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.
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A number of analysts have recently issued reports on the stock. BMO Capital Markets upgraded shares of NVIDIA Corporation from an “underperform” rating to a “market perform” rating and cut their price target for the stock from $218.67 to $216.14 in a report on Monday. MKM Partners raised their price target on shares of NVIDIA Corporation and gave the stock a “neutral” rating in a report on Friday. Raymond James Financial, Inc. raised their price target on shares of NVIDIA Corporation and gave the stock an “outperform” rating in a report on Friday. Barclays PLC raised their price target on shares of NVIDIA Corporation from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Bank of America Corporation raised their price target on shares of NVIDIA Corporation from $210.00 to $251.00 and gave the stock a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $185.41.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up $10.82 during trading hours on Monday, hitting $216.14. 31,331,300 shares of the stock traded hands, compared to its average volume of 17,773,291. The stock has a market capitalization of $128,040.00, a P/E ratio of 53.24, a price-to-earnings-growth ratio of 5.34 and a beta of 1.23. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31. NVIDIA Corporation has a 1-year low of $78.50 and a 1-year high of $218.67.
NVIDIA Corporation (NASDAQ:NVDA) last issued its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.39. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.36 billion. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. The business’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. sell-side analysts forecast that NVIDIA Corporation will post 3.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. This is an increase from NVIDIA Corporation’s previous quarterly dividend of $0.14. NVIDIA Corporation’s payout ratio is currently 14.00%.
In related news, Director Tench Coxe sold 50,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $189.62, for a total transaction of $9,481,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jen Hsun Huang sold 110,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $166.08, for a total transaction of $18,268,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 436,503 shares of company stock worth $78,796,295. 5.17% of the stock is owned by insiders.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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