Community Trust & Investment Co. Sells 30,259 Shares of NVIDIA Co. (NASDAQ:NVDA)

Community Trust & Investment Co. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 613,997 shares of the computer hardware maker’s stock after selling 30,259 shares during the period. NVIDIA makes up about 5.1% of Community Trust & Investment Co.’s portfolio, making the stock its 4th biggest holding. Community Trust & Investment Co.’s holdings in NVIDIA were worth $82,454,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Crestmont Private Wealth LLC raised its stake in NVIDIA by 12.8% in the fourth quarter. Crestmont Private Wealth LLC now owns 6,941 shares of the computer hardware maker’s stock valued at $932,000 after buying an additional 790 shares during the last quarter. Oak Thistle LLC increased its holdings in shares of NVIDIA by 267.5% during the fourth quarter. Oak Thistle LLC now owns 14,732 shares of the computer hardware maker’s stock valued at $1,978,000 after acquiring an additional 10,723 shares in the last quarter. Floyd Financial Group LLC purchased a new position in shares of NVIDIA in the 4th quarter valued at approximately $7,443,000. Define Financial LLC purchased a new position in shares of NVIDIA in the 4th quarter valued at approximately $589,000. Finally, Pines Wealth Management LLC acquired a new stake in NVIDIA in the 4th quarter worth approximately $7,865,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of a number of research analyst reports. Citigroup raised their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Morgan Stanley reduced their target price on NVIDIA from $166.00 to $152.00 and set an “overweight” rating for the company in a research note on Tuesday. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Robert W. Baird increased their price objective on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, HSBC decreased their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.23.

NVIDIA Stock Performance

NASDAQ NVDA opened at $120.07 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1-year low of $60.70 and a 1-year high of $153.13. The company has a market cap of $2.94 trillion, a PE ratio of 47.25, a price-to-earnings-growth ratio of 2.23 and a beta of 1.64. The stock’s 50 day simple moving average is $137.02 and its 200-day simple moving average is $129.37.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, equities research analysts anticipate 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 Friday, December 27th. Investors of record on Thursday, December 5th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

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.