NVIDIA Co. (NVDA) Shares Bought by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 13.7% during the third quarter, Holdings Channel reports. The fund owned 218,100 shares of the computer hardware maker’s stock after acquiring an additional 26,200 shares during the quarter. NVIDIA comprises approximately 0.7% of Virginia Retirement Systems ET AL’s holdings, making the stock its 19th largest position. Virginia Retirement Systems ET AL’s holdings in NVIDIA were worth $61,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in shares of NVIDIA by 3.5% in the 2nd quarter. FMR LLC now owns 48,594,422 shares of the computer hardware maker’s stock worth $11,512,019,000 after buying an additional 1,656,748 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of NVIDIA by 63.7% in the 2nd quarter. Janus Henderson Group PLC now owns 4,222,049 shares of the computer hardware maker’s stock worth $1,000,199,000 after buying an additional 1,643,689 shares during the last quarter. Jennison Associates LLC lifted its position in shares of NVIDIA by 18.8% in the 2nd quarter. Jennison Associates LLC now owns 7,800,112 shares of the computer hardware maker’s stock worth $1,847,847,000 after buying an additional 1,234,191 shares during the last quarter. Schwab Charitable Fund bought a new position in shares of NVIDIA in the 2nd quarter worth about $111,151,000. Finally, USS Investment Management Ltd bought a new position in shares of NVIDIA in the 3rd quarter worth about $131,500,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

A number of research analysts have recently issued reports on NVDA shares. Argus restated a “buy” rating and issued a $300.00 price target on shares of NVIDIA in a research report on Friday, October 12th. Goldman Sachs Group upgraded shares of NVIDIA from a “buy” rating to a “conviction-buy” rating and reduced their price target for the stock from $324.00 to $305.00 in a research report on Thursday, October 18th. Evercore ISI raised their price target on shares of NVIDIA from $300.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research report on Friday, October 5th. Finally, BidaskClub downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Eleven equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $290.21.

NVIDIA stock traded up $2.38 during trading hours on Wednesday, hitting $213.44. 2,046,651 shares of the company traded hands, compared to its average volume of 14,816,301. The stock has a market cap of $130.67 billion, a price-to-earnings ratio of 45.70, a PEG ratio of 2.82 and a beta of 2.01. The company has a current ratio of 7.41, a quick ratio of 6.66 and a debt-to-equity ratio of 0.23. NVIDIA Co. has a 1-year low of $176.01 and a 1-year high of $292.76.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.28. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.11 billion. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. NVIDIA’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. Research analysts expect that NVIDIA Co. will post 7.15 earnings per share for the current fiscal year.

In other NVIDIA news, EVP Ajay K. Puri sold 90,831 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the transaction, the executive vice president now owns 184,001 shares of the company’s stock, valued at approximately $53,240,689.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Byron sold 11,257 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the transaction, the insider now directly owns 81,414 shares in the company, valued at approximately $21,488,411.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,707 shares of company stock worth $32,347,973. 4.70% of the stock is owned by corporate insiders.

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About NVIDIA

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

Further Reading: Book Value Per Share – BVPS

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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