NVIDIA Corporation $NVDA Stock Position Cut by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its position in NVIDIA Corporation (NASDAQ:NVDA) by 32.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,913,893 shares of the computer hardware maker’s stock after selling 907,153 shares during the period. NVIDIA comprises 3.2% of Texas Permanent School Fund Corp’s investment portfolio, making the stock its 2nd biggest position. Texas Permanent School Fund Corp’s holdings in NVIDIA were worth $302,376,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Center for Financial Planning Inc. grew its position in NVIDIA by 4.6% in the second quarter. Center for Financial Planning Inc. now owns 8,429 shares of the computer hardware maker’s stock worth $1,332,000 after acquiring an additional 367 shares during the period. Atria Investments Inc grew its holdings in shares of NVIDIA by 3.2% during the 2nd quarter. Atria Investments Inc now owns 942,208 shares of the computer hardware maker’s stock worth $148,859,000 after purchasing an additional 29,479 shares during the period. Fielder Capital Group LLC increased its position in shares of NVIDIA by 9.7% during the 1st quarter. Fielder Capital Group LLC now owns 50,469 shares of the computer hardware maker’s stock worth $5,470,000 after purchasing an additional 4,444 shares during the last quarter. MADDEN SECURITIES Corp increased its position in shares of NVIDIA by 3.2% during the 2nd quarter. MADDEN SECURITIES Corp now owns 81,322 shares of the computer hardware maker’s stock worth $12,848,000 after purchasing an additional 2,484 shares during the last quarter. Finally, ORG Wealth Partners LLC raised its holdings in NVIDIA by 7.7% in the 2nd quarter. ORG Wealth Partners LLC now owns 49,301 shares of the computer hardware maker’s stock valued at $7,560,000 after buying an additional 3,542 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NVDA. Raymond James Financial set a $272.00 target price on shares of NVIDIA and gave the stock a “strong-buy” rating in a research note on Thursday, November 20th. Rosenblatt Securities upped their price objective on shares of NVIDIA from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. DZ Bank reiterated a “buy” rating on shares of NVIDIA in a report on Thursday, November 20th. Daiwa Capital Markets boosted their target price on NVIDIA from $165.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Finally, Bank of America upped their price target on NVIDIA from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $258.65.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 350,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $176.39, for a total transaction of $61,736,500.00. Following the sale, the director directly owned 7,399,803 shares in the company, valued at approximately $1,305,251,251.17. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the completion of the sale, the director directly owned 7,183,280 shares in the company, valued at approximately $1,265,765,768.80. This trade represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 2,679,474 shares of company stock valued at $486,790,117. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $177.72 on Wednesday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $212.19. The company has a fifty day simple moving average of $186.36 and a two-hundred day simple moving average of $174.65. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.32 trillion, a price-to-earnings ratio of 44.10, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29.

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

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Thursday, December 4th. NVIDIA’s dividend payout ratio (DPR) is presently 0.99%.

NVIDIA 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.