Teachers Retirement System of The State of Kentucky Sells 89,517 Shares of NVIDIA Co. (NASDAQ:NVDA)

Teachers Retirement System of The State of Kentucky trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,728,893 shares of the computer hardware maker’s stock after selling 89,517 shares during the quarter. NVIDIA makes up approximately 3.9% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 2nd largest position. Teachers Retirement System of The State of Kentucky’s holdings in NVIDIA were worth $452,836,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ironwood Wealth Management LLC. grew its stake in NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after buying an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. grew its position in shares of NVIDIA by 900.0% during the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after acquiring an additional 3,240 shares during the last quarter. Tobam increased its holdings in shares of NVIDIA by 811.4% in the 2nd quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock worth $5,126,000 after acquiring an additional 36,937 shares during the period. Great Diamond Partners LLC lifted its position in NVIDIA by 859.1% in the 2nd quarter. Great Diamond Partners LLC now owns 54,995 shares of the computer hardware maker’s stock valued at $6,794,000 after purchasing an additional 49,261 shares during the last quarter. Finally, Rather & Kittrell Inc. boosted its stake in NVIDIA by 947.4% during the 2nd quarter. Rather & Kittrell Inc. now owns 6,777 shares of the computer hardware maker’s stock valued at $837,000 after purchasing an additional 6,130 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stifel Nicolaus lifted their target price on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Piper Sandler lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Finally, Barclays boosted their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Up 2.3 %

Shares of NASDAQ NVDA opened at $140.83 on Wednesday. NVIDIA Co. has a 1 year low of $58.58 and a 1 year high of $153.13. The firm has a market capitalization of $3.45 trillion, a PE ratio of 55.42, a price-to-earnings-growth ratio of 2.48 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average is $138.84 and its 200-day moving average is $129.11.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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.