Verum Partners LLC Purchases 1,042 Shares of NVIDIA Co. (NASDAQ:NVDA)

Verum Partners LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 8.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 12,772 shares of the computer hardware maker’s stock after buying an additional 1,042 shares during the period. Verum Partners LLC’s holdings in NVIDIA were worth $1,551,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. FPC Investment Advisory Inc. purchased a new stake in shares of NVIDIA during the 1st quarter worth approximately $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA in the 1st quarter worth about $27,000. HBC Financial Services PLLC purchased a new stake in NVIDIA in the first quarter worth about $30,000. TCTC Holdings LLC purchased a new position in shares of NVIDIA in the 1st quarter valued at $82,000. Finally, Delos Wealth Advisors LLC grew its position in shares of NVIDIA by 600.0% in the 1st quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker’s stock worth $101,000 after buying an additional 96 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of several research reports. Loop Capital reiterated a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, August 26th. Oppenheimer boosted their price objective on NVIDIA from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. DA Davidson reiterated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. Wells Fargo & Company upped their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Evercore ISI boosted their price objective on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.63.

NVIDIA Stock Up 4.9 %

NVDA stock opened at $147.01 on Wednesday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $149.77. The stock has a market cap of $3.61 trillion, a P/E ratio of 69.02, a PEG ratio of 1.49 and a beta of 1.66. The company’s 50 day moving average is $132.42 and its two-hundred day moving average is $121.37.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the prior year, the firm earned $0.25 EPS. The business’s revenue was up 122.4% on a year-over-year basis. Research analysts expect that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA announced that its board has approved a stock buyback program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 in the last 90 days. Company 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.