Retirement Systems of Alabama Has $473.12 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Retirement Systems of Alabama lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 955,364 shares of the computer hardware maker’s stock after selling 14,128 shares during the period. NVIDIA makes up approximately 2.0% of Retirement Systems of Alabama’s holdings, making the stock its 4th largest position. Retirement Systems of Alabama’s holdings in NVIDIA were worth $473,115,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA bought a new stake in NVIDIA in the 4th quarter worth approximately $28,000. Criterion Capital Advisors LLC bought a new stake in NVIDIA in the 4th quarter worth approximately $28,000. Your Advocates Ltd. LLP bought a new stake in NVIDIA in the 3rd quarter worth approximately $30,000. O Brien Wealth Partners LLC grew its position in NVIDIA by 139.5% in the 4th quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock worth $45,000 after purchasing an additional 53 shares during the period. Finally, Trivant Custom Portfolio Group LLC grew its position in NVIDIA by 44.1% in the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after purchasing an additional 30 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $900.00 target price on shares of NVIDIA in a research report on Monday, March 4th. Stifel Nicolaus restated a “buy” rating and set a $910.00 target price on shares of NVIDIA in a research note on Wednesday, March 20th. Sanford C. Bernstein lifted their target price on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. HSBC lifted their target price on shares of NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Susquehanna restated a “positive” rating and set a $1,050.00 target price on shares of NVIDIA in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $941.55.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The transaction was disclosed in a filing with the SEC, which is available at this link. In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the transaction, the director now owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,278 shares of company stock valued at $52,689,898. Insiders own 3.99% of the company’s stock.

NVIDIA Trading Up 3.8 %

NASDAQ:NVDA opened at $921.40 on Tuesday. NVIDIA Co. has a 52 week low of $280.46 and a 52 week high of $974.00. The firm has a 50 day moving average of $869.99 and a 200 day moving average of $655.88. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 77.17, a PEG ratio of 1.27 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. NVIDIA’s revenue for the quarter was up 265.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s payout ratio is 1.34%.

NVIDIA Company 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.