Veracity Capital LLC Has $4.15 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Veracity Capital LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,130 shares of the computer hardware maker’s stock after purchasing an additional 1,555 shares during the quarter. NVIDIA makes up about 1.6% of Veracity Capital LLC’s portfolio, making the stock its 8th largest position. Veracity Capital LLC’s holdings in NVIDIA were worth $4,145,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. boosted its position in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares in the last quarter. CGC Financial Services LLC acquired a new stake in shares of NVIDIA in the 2nd quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the 1st quarter valued at about $27,000. Finally, Quest Partners LLC bought a new position in NVIDIA in the second quarter worth approximately $27,000. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Truist Financial upped their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.15.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the transaction, the director now directly owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 in the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 4.2 %

Shares of NVDA stock opened at $136.02 on Tuesday. The business has a 50-day moving average price of $134.39 and a two-hundred day moving average price of $122.84. The firm has a market cap of $3.33 trillion, a P/E ratio of 53.53, a price-to-earnings-growth ratio of 2.60 and a beta of 1.66. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.73 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

NVIDIA declared that its board has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Company 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.