Kentucky Retirement Systems Sells 92,054 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Kentucky Retirement Systems trimmed its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,598,431 shares of the computer hardware maker's stock after selling 92,054 shares during the quarter. NVIDIA accounts for approximately 5.3% of Kentucky Retirement Systems' investment portfolio, making the stock its 3rd largest holding. Kentucky Retirement Systems' holdings in NVIDIA were worth $173,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NVDA. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. GAMMA Investing LLC raised its holdings in shares of NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp raised its holdings in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVDA. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Loop Capital lifted their price objective on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Truist Financial lifted their price objective on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Benchmark reiterated a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Finally, William Blair reiterated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $177.72.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,520,246 shares of company stock worth $660,253,045. 4.17% of the stock is owned by corporate insiders.

NVIDIA Trading Up 3.8%

Shares of NVDA stock traded up $6.17 on Tuesday, hitting $170.24. 186,431,865 shares of the stock traded hands, compared to its average volume of 265,245,846. The firm's 50-day moving average price is $142.53 and its two-hundred day moving average price is $128.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a market capitalization of $4.15 trillion, a PE ratio of 54.85, a PEG ratio of 1.46 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $172.79.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. As a group, analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA's payout ratio is 1.29%.

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.