Arizona State Retirement System Raises Position in NVIDIA Corporation (NVDA)

Arizona State Retirement System increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 147,516 shares of the computer hardware maker’s stock after buying an additional 1,700 shares during the period. Arizona State Retirement System’s holdings in NVIDIA Corporation were worth $21,325,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. TB Alternative Assets Ltd. bought a new stake in shares of NVIDIA Corporation during the second quarter worth $116,000. Proficio Capital Partners LLC increased its stake in shares of NVIDIA Corporation by 186.1% in the first quarter. Proficio Capital Partners LLC now owns 841 shares of the computer hardware maker’s stock worth $117,000 after buying an additional 547 shares during the period. Founders Capital Management increased its stake in shares of NVIDIA Corporation by 25.0% in the second quarter. Founders Capital Management now owns 1,000 shares of the computer hardware maker’s stock worth $145,000 after buying an additional 200 shares during the period. Quadrant Capital Group LLC increased its stake in shares of NVIDIA Corporation by 17.5% in the first quarter. Quadrant Capital Group LLC now owns 1,055 shares of the computer hardware maker’s stock worth $105,000 after buying an additional 157 shares during the period. Finally, Coconut Grove Bank increased its stake in shares of NVIDIA Corporation by 683.9% in the first quarter. Coconut Grove Bank now owns 1,215 shares of the computer hardware maker’s stock worth $132,000 after buying an additional 1,060 shares during the period. 68.91% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Corporation (NASDAQ:NVDA) opened at 164.74 on Friday. The firm has a 50-day moving average of $159.56 and a 200-day moving average of $127.02. The company has a market cap of $98.02 billion, a price-to-earnings ratio of 55.30 and a beta of 1.24. NVIDIA Corporation has a 52 week low of $57.32 and a 52 week high of $174.56.

NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.69 by $0.32. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The company’s quarterly revenue was up 56.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. Equities analysts forecast that NVIDIA Corporation will post $3.10 earnings per share for the current year.

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A number of analysts have weighed in on the stock. B. Riley reissued a “buy” rating and issued a $135.00 price target on shares of NVIDIA Corporation in a report on Monday, May 8th. UBS AG reissued a “buy” rating and issued a $132.00 price target on shares of NVIDIA Corporation in a report on Wednesday, May 10th. Barclays PLC increased their price target on shares of NVIDIA Corporation to $140.00 and gave the company an “equal weight” rating in a report on Friday. Needham & Company LLC reissued a “buy” rating on shares of NVIDIA Corporation in a report on Friday. Finally, Loop Capital reissued a “buy” rating and issued a $181.00 price target on shares of NVIDIA Corporation in a report on Friday. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. NVIDIA Corporation presently has a consensus rating of “Hold” and a consensus price target of $140.98.

In other news, insider Michael Byron sold 25,507 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $137.09, for a total transaction of $3,496,754.63. Following the completion of the sale, the insider now owns 162,706 shares of the company’s stock, valued at approximately $22,305,365.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Persis Drell sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $130.02, for a total transaction of $325,050.00. Following the sale, the director now directly owns 24,652 shares of the company’s stock, valued at approximately $3,205,253.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 572,282 shares of company stock valued at $86,830,082. Insiders own 5.82% of the company’s stock.

NVIDIA Corporation Company 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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Institutional Ownership by Quarter for NVIDIA Corporation (NASDAQ:NVDA)

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