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

Korea Investment CORP lowered its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,208,406 shares of the computer hardware maker's stock after selling 572,828 shares during the period. NVIDIA makes up approximately 6.1% of Korea Investment CORP's portfolio, making the stock its 2nd biggest 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 institutional investors also recently bought and sold shares of the company. Clear Street Derivatives LLC purchased a new stake in shares of NVIDIA in the 3rd quarter worth about $4,589,905,000. Proficio Capital Partners LLC increased its stake in shares of NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. GQG Partners LLC lifted its stake in NVIDIA by 132.3% in the 4th quarter. GQG Partners LLC now owns 25,697,930 shares of the computer hardware maker's stock valued at $3,450,975,000 after buying an additional 14,636,057 shares in the last quarter. Amundi increased its position in NVIDIA by 12.9% during the fourth quarter. Amundi now owns 117,036,612 shares of the computer hardware maker's stock worth $16,394,224,000 after buying an additional 13,406,054 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker's stock valued at $66,101,133,000 after acquiring an additional 11,525,969 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares of the company's stock, valued at $55,997,190.40. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays decreased their price target on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Bank of America reduced their price target on NVIDIA from $200.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Wedbush reaffirmed an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Finally, DA Davidson reduced their target price on shares of NVIDIA from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $0.10 on Wednesday, hitting $108.92. The company had a trading volume of 229,377,969 shares, compared to its average volume of 302,869,091. NVIDIA Co. has a 52 week low of $81.25 and a 52 week high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $2.66 trillion, a PE ratio of 42.87, a PEG ratio of 1.76 and a beta of 1.96. The business has a 50-day simple moving average of $111.97 and a 200-day simple moving average of $128.63.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's payout ratio is presently 1.36%.

About NVIDIA

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.