State of Tennessee Treasury Department Has $29.19 Million Stake in NVIDIA Corporation (NVDA)
State of Tennessee Treasury Department reduced its stake in NVIDIA Corporation (NASDAQ:NVDA) by 31.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,252 shares of the computer hardware maker’s stock after selling 75,981 shares during the period. State of Tennessee Treasury Department’s holdings in NVIDIA Corporation were worth $29,185,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of NVDA. Janus Henderson Group PLC boosted its stake in shares of NVIDIA Corporation by 5,424.4% during the 2nd quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock worth $592,244,000 after purchasing an additional 4,022,728 shares during the period. Vanguard Group Inc. raised its position in shares of NVIDIA Corporation by 7.1% in the second quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after buying an additional 2,676,976 shares during the last quarter. Jackson Square Partners LLC acquired a new stake in shares of NVIDIA Corporation in the second quarter valued at about $229,323,000. Janus Capital Management LLC raised its position in shares of NVIDIA Corporation by 20.0% in the first quarter. Janus Capital Management LLC now owns 5,368,881 shares of the computer hardware maker’s stock valued at $584,832,000 after buying an additional 895,591 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of NVIDIA Corporation by 19.3% in the second quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock valued at $687,931,000 after buying an additional 768,200 shares during the last quarter. Hedge funds and other institutional investors own 65.59% of the company’s stock.
Several research firms have recently commented on NVDA. Mizuho reissued a “buy” rating and issued a $180.00 price objective (up previously from $170.00) on shares of NVIDIA Corporation in a research note on Friday, August 11th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $140.00 target price on shares of NVIDIA Corporation in a research report on Wednesday, August 16th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of NVIDIA Corporation in a report on Sunday. Vetr lowered NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price target for the company. in a research report on Thursday, August 31st. Finally, Zacks Investment Research upgraded NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price target for the company in a report on Tuesday, July 11th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $164.69.
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In other NVIDIA Corporation news, EVP Debora Shoquist sold 33,498 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $189.24, for a total transaction of $6,339,161.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 50,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $189.62, for a total transaction of $9,481,000.00. The disclosure for this sale can be found here. Insiders have sold 452,784 shares of company stock valued at $81,437,724 over the last 90 days. 5.17% of the stock is currently owned by insiders.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up $2.83 during midday trading on Tuesday, hitting $211.52. The stock had a trading volume of 3,162,750 shares, compared to its average volume of 13,250,000. The company has a market capitalization of $126,840.00, a price-to-earnings ratio of 58.62, a P/E/G ratio of 5.16 and a beta of 1.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.99 and a current ratio of 7.82. NVIDIA Corporation has a one year low of $66.76 and a one year high of $212.38.
NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company posted $0.53 earnings per share. NVIDIA Corporation’s revenue was up 56.2% compared to the same quarter last year. research analysts predict that NVIDIA Corporation will post 3.61 earnings per share for the current fiscal year.
NVIDIA Corporation Profile
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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