California State Teachers Retirement System Increases Stake in NVIDIA Co. (NVDA)
California State Teachers Retirement System grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,037,878 shares of the computer hardware maker’s stock after purchasing an additional 25,372 shares during the period. California State Teachers Retirement System owned approximately 0.17% of NVIDIA worth $138,557,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of NVDA. FMR LLC raised its holdings in NVIDIA by 1.5% in the third quarter. FMR LLC now owns 49,322,285 shares of the computer hardware maker’s stock worth $13,860,548,000 after buying an additional 727,863 shares during the last quarter. Vanguard Group Inc. raised its holdings in NVIDIA by 4.0% in the third quarter. Vanguard Group Inc. now owns 44,464,641 shares of the computer hardware maker’s stock worth $12,495,455,000 after buying an additional 1,693,736 shares during the last quarter. Vanguard Group Inc raised its holdings in NVIDIA by 4.0% in the third quarter. Vanguard Group Inc now owns 44,464,641 shares of the computer hardware maker’s stock worth $12,495,455,000 after buying an additional 1,693,736 shares during the last quarter. BlackRock Inc. raised its holdings in NVIDIA by 1.0% in the fourth quarter. BlackRock Inc. now owns 39,307,194 shares of the computer hardware maker’s stock worth $5,247,509,000 after buying an additional 378,149 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in NVIDIA by 8,687.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,509,787 shares of the computer hardware maker’s stock worth $161,000 after buying an additional 21,265,009 shares during the last quarter. 68.72% of the stock is currently owned by institutional investors and hedge funds.
NVDA opened at $169.81 on Friday. The company has a market capitalization of $102.90 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 3.90 and a beta of 1.89. NVIDIA Co. has a 1-year low of $124.46 and a 1-year high of $292.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.94 and a quick ratio of 6.76.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 1st will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.38%. NVIDIA’s payout ratio is currently 10.54%.
In related news, EVP Debora Shoquist sold 6,345 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $135.33, for a total transaction of $858,668.85. Following the completion of the transaction, the executive vice president now owns 177,911 shares in the company, valued at $24,076,695.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.70% of the stock is currently owned by corporate insiders.
Several research analysts have issued reports on the stock. Deutsche Bank decreased their target price on shares of NVIDIA from $260.00 to $190.00 and set a “hold” rating for the company in a report on Friday, November 16th. Royal Bank of Canada decreased their price objective on shares of NVIDIA to $260.00 and set an “outperform” rating for the company in a report on Friday, November 16th. Sanford C. Bernstein cut shares of NVIDIA from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $250.00 to $175.00 in a report on Monday, February 11th. B. Riley reissued a “neutral” rating and set a $190.00 price objective (down from $240.00) on shares of NVIDIA in a report on Friday, November 16th. Finally, BidaskClub cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $210.62.
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.
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