Kentucky Retirement Systems Insurance Trust Fund Sells 65,053 Shares of NVIDIA Co. (NASDAQ:NVDA)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.2% in the third quarter, Holdings Channel reports. The institutional investor owned 728,343 shares of the computer hardware maker’s stock after selling 65,053 shares during the period. NVIDIA accounts for approximately 6.1% of Kentucky Retirement Systems Insurance Trust Fund’s holdings, making the stock its 3rd biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in NVIDIA were worth $88,450,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NVDA. Quest Partners LLC bought a new position in shares of NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $31,000. West Financial Advisors LLC acquired a new position in shares of NVIDIA in the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,226,886 shares of company stock worth $161,499,400 in the last three months. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVDA. The Goldman Sachs Group upped their price target on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. TD Cowen upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Morgan Stanley lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, DA Davidson increased their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Down 2.3 %

Shares of NASDAQ:NVDA opened at $134.29 on Thursday. The firm has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The company’s fifty day simple moving average is $139.55 and its 200 day simple moving average is $128.09. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. As a group, research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

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.