Korea Investment CORP Sells 572,828 Shares of NVIDIA Co. (NASDAQ:NVDA)

Korea Investment CORP trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,208,406 shares of the computer hardware maker’s stock after selling 572,828 shares during the period. NVIDIA makes up about 6.1% of Korea Investment CORP’s holdings, making the stock its 2nd largest holding. Korea Investment CORP owned about 0.08% of NVIDIA worth $2,579,497,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Hickory Point Bank & Trust acquired a new stake in shares of NVIDIA in the 4th quarter valued at about $2,272,000. Capital Performance Advisors LLP boosted its stake in NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares during the period. Ethos Financial Group LLC grew its position in NVIDIA by 24.1% during the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock worth $4,312,000 after purchasing an additional 6,241 shares during the last quarter. Metis Global Partners LLC increased its stake in NVIDIA by 3.6% in the fourth quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker’s stock valued at $196,711,000 after purchasing an additional 50,978 shares during the period. Finally, Candriam S.C.A. raised its holdings in shares of NVIDIA by 0.5% in the fourth quarter. Candriam S.C.A. now owns 7,061,058 shares of the computer hardware maker’s stock valued at $948,229,000 after buying an additional 35,684 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,147 shares of company stock valued at $17,133,207. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus set a $180.00 price target on NVIDIA in a research report on Wednesday, March 19th. Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Raymond James reissued a “strong-buy” rating on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.96.

NVIDIA Trading Up 0.3 %

Shares of NASDAQ NVDA opened at $109.02 on Wednesday. NVIDIA Co. has a 12-month low of $81.25 and a 12-month high of $195.95. The company has a market cap of $2.66 trillion, a price-to-earnings ratio of 42.90, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $111.97 and its 200 day simple moving average is $128.63.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 1.36%.

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.