NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,598,431 shares of the computer hardware maker’s stock after selling 92,054 shares during the period. NVIDIA makes up approximately 5.3% of Kentucky Retirement Systems’ investment portfolio, making the stock its 3rd biggest position. Kentucky Retirement Systems’ holdings in NVIDIA were worth $173,238,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tacita Capital Inc bought a new stake in shares of NVIDIA during the fourth quarter worth $28,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA during the fourth quarter worth $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA during the fourth quarter worth $50,000. Bruce G. Allen Investments LLC grew its stake in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after buying an additional 327 shares during the last quarter. Finally, LSV Asset Management bought a new stake in shares of NVIDIA during the fourth quarter worth $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVDA stock opened at $164.92 on Friday. The stock has a market capitalization of $4.02 trillion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 1.45 and a beta of 2.13. The company’s 50-day moving average is $141.53 and its 200-day moving average is $128.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $167.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the company earned $0.61 EPS. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.29%.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $163.11, for a total value of $12,233,250.00. Following the sale, the chief executive officer owned 74,873,225 shares in the company, valued at $12,212,571,729.75. This represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director A Brooke Seawell sold 49,131 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $162.83, for a total transaction of $8,000,000.73. Following the completion of the sale, the director owned 1,826,382 shares in the company, valued at $297,389,781.06. This represents a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,520,246 shares of company stock worth $660,253,045 in the last 90 days. 4.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NVDA has been the topic of a number of research reports. Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Barclays boosted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 17th. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Raymond James Financial boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $177.03.

NVIDIA Company 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.