Texas Permanent School Fund Reduces Holdings in NVIDIA Corporation (NVDA)
Texas Permanent School Fund decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,434 shares of the computer hardware maker’s stock after selling 844 shares during the period. Texas Permanent School Fund’s holdings in NVIDIA were worth $32,011,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in NVDA. Martingale Asset Management L P purchased a new stake in shares of NVIDIA during the 2nd quarter worth $738,000. Pinebridge Investments L.P. lifted its position in shares of NVIDIA by 1.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,872 shares of the computer hardware maker’s stock worth $271,000 after purchasing an additional 33 shares during the last quarter. ETRADE Capital Management LLC purchased a new stake in shares of NVIDIA during the 2nd quarter worth $226,000. Quantbot Technologies LP purchased a new stake in shares of NVIDIA during the 2nd quarter worth $543,000. Finally, Ark Investment Management LLC lifted its position in NVIDIA by 79.5% in the second quarter. Ark Investment Management LLC now owns 126,769 shares of the computer hardware maker’s stock valued at $18,326,000 after acquiring an additional 56,138 shares during the last quarter. 63.41% of the stock is owned by institutional investors and hedge funds.
In other news, Director Dawn E. Hudson sold 15,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $213.44, for a total transaction of $3,201,600.00. Following the transaction, the director now directly owns 46,868 shares in the company, valued at $10,003,505.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Persis Drell sold 606 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $197.07, for a total transaction of $119,424.42. Following the transaction, the director now owns 26,104 shares in the company, valued at $5,144,315.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,858 shares of company stock worth $4,227,384. Company insiders own 5.17% of the company’s stock.
NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.39. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The business’s revenue was up 31.5% compared to the same quarter last year. equities research analysts forecast that NVIDIA Corporation will post 4.19 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on NVDA. Vetr cut shares of NVIDIA from a “hold” rating to a “sell” rating and set a $224.49 price target for the company. in a research report on Monday. Bank of America reissued a “buy” rating and issued a $275.00 price target (up from $251.00) on shares of NVIDIA in a research report on Friday. Mizuho reissued a “buy” rating and issued a $240.00 price target (up from $225.00) on shares of NVIDIA in a research report on Tuesday, January 16th. Zacks Investment Research cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 15th. Finally, BidaskClub raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 11th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $193.29.
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NVIDIA 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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