NVIDIA Corporation $NVDA Stake Lowered by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 6.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 636,681 shares of the computer hardware maker’s stock after selling 44,133 shares during the quarter. NVIDIA comprises approximately 6.9% of Kentucky Retirement Systems Insurance Trust Fund’s portfolio, making the stock its 2nd biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in NVIDIA were worth $100,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Monarch Capital Management Inc. purchased a new stake in NVIDIA during the 2nd quarter valued at about $361,000. North Dallas Bank & Trust Co. purchased a new position in NVIDIA in the second quarter worth about $3,697,000. Coppell Advisory Solutions LLC bought a new position in shares of NVIDIA in the second quarter worth approximately $7,931,000. Newbridge Financial Services Group Inc. grew its holdings in shares of NVIDIA by 4.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 270,890 shares of the computer hardware maker’s stock valued at $42,798,000 after buying an additional 11,794 shares during the last quarter. Finally, MRP Capital Investments LLC increased its position in shares of NVIDIA by 9.2% during the second quarter. MRP Capital Investments LLC now owns 13,765 shares of the computer hardware maker’s stock valued at $2,175,000 after acquiring an additional 1,165 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NVDA shares. Wedbush upped their price objective on NVIDIA from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Hsbc Global Res upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Mizuho increased their price objective on NVIDIA from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. DZ Bank reiterated a “buy” rating on shares of NVIDIA in a report on Thursday, November 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $240.00 target price on shares of NVIDIA in a research report on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $258.65.

NVIDIA Trading Down 3.3%

Shares of NVDA stock opened at $175.02 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. The company has a market cap of $4.25 trillion, a price-to-earnings ratio of 43.43, a PEG ratio of 0.86 and a beta of 2.29. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $212.19. The firm has a fifty day moving average price of $186.69 and a 200-day moving average price of $174.09.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The company had revenue of $57.01 billion for the quarter, compared to analysts’ expectations of $54.66 billion. During the same period last year, the firm earned $0.81 EPS. NVIDIA’s revenue for the quarter was up 62.5% compared to the same quarter last year. As a group, equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s payout ratio is 0.99%.

Insider Buying and Selling

In other NVIDIA news, Director Harvey C. Jones sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total value of $44,052,500.00. Following the completion of the transaction, the director directly owned 7,183,280 shares in the company, valued at $1,265,765,768.80. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Debora Shoquist sold 80,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $184.65, for a total transaction of $14,772,000.00. Following the sale, the executive vice president owned 1,574,443 shares in the company, valued at $290,720,899.95. The trade was a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,754,474 shares of company stock valued at $499,562,617. Insiders own 4.17% of the company’s stock.

NVIDIA 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.