Teachers Retirement System of The State of Kentucky Sells 13,547 Shares of NVIDIA Co. (NASDAQ:NVDA)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,090 shares of the computer hardware maker’s stock after selling 13,547 shares during the quarter. NVIDIA makes up about 0.6% of Teachers Retirement System of The State of Kentucky’s investment portfolio, making the stock its 22nd biggest position. Teachers Retirement System of The State of Kentucky’s holdings in NVIDIA were worth $46,765,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Covenant Asset Management LLC grew its holdings in NVIDIA by 233.8% during the 2nd quarter. Covenant Asset Management LLC now owns 7,930 shares of the computer hardware maker’s stock worth $3,013,000 after acquiring an additional 5,554 shares during the last quarter. Ayalon Holdings Ltd. boosted its stake in shares of NVIDIA by 5.0% in the 2nd quarter. Ayalon Holdings Ltd. now owns 5,269 shares of the computer hardware maker’s stock valued at $2,009,000 after purchasing an additional 251 shares during the last quarter. IHT Wealth Management LLC boosted its stake in shares of NVIDIA by 24.3% in the 1st quarter. IHT Wealth Management LLC now owns 10,003 shares of the computer hardware maker’s stock valued at $2,637,000 after purchasing an additional 1,958 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of NVIDIA by 3.1% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 12,541 shares of the computer hardware maker’s stock valued at $3,306,000 after purchasing an additional 373 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. bought a new stake in shares of NVIDIA in the 2nd quarter valued at $127,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on NVDA. Rosenblatt Securities upped their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Jefferies Financial Group upped their price objective on shares of NVIDIA from $570.00 to $680.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company upped their price objective on shares of NVIDIA from $535.00 to $605.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Barclays upped their price objective on shares of NVIDIA from $450.00 to $525.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Finally, Oppenheimer reiterated a “buy” rating and set a $550.00 target price on shares of NVIDIA in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirty-one have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $512.97.

Shares of NVDA stock traded up $4.75 on Tuesday, hitting $519.64. The stock had a trading volume of 18,150,774 shares, compared to its average volume of 13,156,977. The business has a 50 day moving average of $476.51 and a 200 day moving average of $357.14. The stock has a market cap of $320.62 billion, a price-to-earnings ratio of 95.26, a price-to-earnings-growth ratio of 3.94 and a beta of 1.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 6.09 and a quick ratio of 5.51. NVIDIA Co. has a 12-month low of $169.32 and a 12-month high of $589.07.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 19th. The computer hardware maker reported $2.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.21. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.66 billion. NVIDIA had a net margin of 25.93% and a return on equity of 30.41%. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.24 earnings per share. As a group, research analysts expect that NVIDIA Co. will post 6.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Wednesday, September 2nd will be issued a $0.16 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 0.12%. NVIDIA’s dividend payout ratio is currently 13.94%.

In related news, Director Mark A. Stevens sold 22,400 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $378.55, for a total transaction of $8,479,520.00. Following the completion of the transaction, the director now owns 161,257 shares in the company, valued at $61,043,837.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 18,166 shares of the stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $372.21, for a total transaction of $6,761,566.86. Following the transaction, the director now owns 161,257 shares of the company’s stock, valued at approximately $60,021,467.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 348,373 shares of company stock valued at $152,440,424. 4.47% of the stock is currently owned by corporate insiders.

NVIDIA Company Profile

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims 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.

Recommended Story: Beta

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.