Trust Investment Advisors has reduced its position in NVIDIA Corporation (NASDAQ: NVDA) by 4.5% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the firm now holds 34,084 shares after selling 1,615 shares during this period. With NVIDIA making up 3.3% of Trust Investment Advisors’ overall investment portfolio, it remains the firm’s fifth largest position, valued at approximately $5,385,000.
Several other institutional investors have also adjusted their holdings in NVIDIA. Notably, Kingstone Capital Partners Texas LLC significantly increased its stake by an astonishing 267,959.7% during the second quarter, bringing its total shares to 382,373,765, valued at about $64.98 billion. UBS Asset Management raised its position by 2.9% in the first quarter, resulting in ownership of 206,794,926 shares worth $22.41 billion. Additionally, Goldman Sachs Group Inc. enhanced its stake by 123.5%, acquiring 187,995,213 shares valued at $20.37 billion.
Institutional investors now hold 65.27% of NVIDIA’s stock, reflecting a growing confidence in the company’s potential.
Analyst Ratings and Stock Performance
Recent analyst evaluations have been generally positive for NVIDIA. Rosenblatt Securities raised its price target from $240.00 to $245.00, issuing a “buy” rating. Similarly, Daiwa Capital Markets upgraded its price target from $165.00 to $205.00. Melius Research set an ambitious price objective of $320.00, while Evercore ISI established a target of $352.00.
As of November 19, 2023, NVIDIA’s stock opened at $182.55. The company boasts a market capitalization of $4.44 trillion, a PE ratio of 52.01, and a price-to-earnings-growth ratio of 1.49. The stock has shown significant volatility, with a 52-week low of $86.62 and a high of $212.19.
NVIDIA’s latest quarterly earnings, released on November 19, indicated a profit of $1.30 per share, surpassing analyst expectations of $1.23. The company reported revenue of $57.01 billion, exceeding forecasts of $54.66 billion and representing a year-over-year increase of 62.5%.
Dividend Announcements and Insider Transactions
NVIDIA also announced a quarterly dividend of $0.01 per share, which will be distributed on December 26, 2023. Shareholders on record as of December 4 will be eligible for this dividend, which translates to an annualized payout of $0.04. Currently, NVIDIA maintains a dividend payout ratio of 0.99%.
In recent insider activity, CFO Colette Kress sold 27,640 shares at an average price of $208.33, totaling approximately $5.76 million. Following this transaction, Kress retains 2,828,122 shares valued at about $589.18 million. Similarly, CEO Jen Hsun Huang sold 25,000 shares for about $5.20 million, maintaining ownership of 69,733,203 shares valued at around $14.50 billion.
Over the past 90 days, insiders have sold a total of 3,251,577 shares valued at approximately $583.14 million, indicating active trading among executives. Currently, insiders hold 4.17% of the company’s stock.
NVIDIA Corporation continues to play a pivotal role in the technology sector, providing graphics and compute solutions globally. The company’s diverse product offerings span gaming, enterprise graphics, automotive platforms, and metaverse applications, solidifying its position as a leader in innovation. As institutional interest grows and analysts maintain optimistic ratings, NVIDIA’s future performance remains a focal point for investors.
