Kentucky Retirement Systems Insurance Trust Fund raised its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3,222.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 680,814 shares of the computer hardware maker's stock after buying an additional 660,324 shares during the period. NVIDIA accounts for about 5.3% of Kentucky Retirement Systems Insurance Trust Fund's investment portfolio, making the stock its 3rd biggest position. Kentucky Retirement Systems Insurance Trust Fund's holdings in NVIDIA were worth $73,787,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BCR Wealth Strategies LLC grew its holdings in shares of NVIDIA by 3.1% in the 4th quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock worth $391,000 after acquiring an additional 89 shares during the last quarter. Condor Capital Management boosted its position in shares of NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after buying an additional 89 shares during the period. Squire Investment Management Company LLC grew its holdings in shares of NVIDIA by 4.0% during the fourth quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock valued at $317,000 after buying an additional 91 shares in the last quarter. Kelly Financial Services LLC grew its holdings in shares of NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after buying an additional 94 shares in the last quarter. Finally, Macroview Investment Management LLC grew its holdings in shares of NVIDIA by 2.9% during the fourth quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker's stock valued at $461,000 after buying an additional 96 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Price Performance
NASDAQ NVDA traded up $0.82 during trading hours on Friday, reaching $164.92. 193,205,730 shares of the company's stock were exchanged, compared to its average volume of 265,988,678. The stock has a market cap 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 has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average of $141.53 and a 200-day moving average of $128.77. NVIDIA Corporation has a one year low of $86.62 and a one year high of $167.89.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA's payout ratio is 1.29%.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Susquehanna reiterated a "positive" rating and set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Truist Financial lifted their price target on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Bank of America lifted their price target on NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.03.
View Our Latest Analysis on NVIDIA
Insider Transactions at NVIDIA
In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,246 shares of company stock valued at $660,253,045 over the last 90 days. 4.17% of the stock is currently owned by corporate insiders.
NVIDIA Profile
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Free Report)
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.
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