NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Verity Asset Management Inc.

Verity Asset Management Inc. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,874 shares of the computer hardware maker’s stock after selling 2,668 shares during the period. NVIDIA comprises about 0.9% of Verity Asset Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Verity Asset Management Inc.’s holdings in NVIDIA were worth $2,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. CGC Financial Services LLC bought a new stake in NVIDIA in the second quarter valued at about $26,000. Quest Partners LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $27,000. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA during the 2nd quarter valued at approximately $31,000. Finally, FPC Investment Advisory Inc. lifted its stake in NVIDIA by 900.0% during the second quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock worth $34,000 after purchasing an additional 261 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent research reports. Mizuho raised their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Stifel Nicolaus increased their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Bank of America reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Finally, Wells Fargo & Company increased their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 3.1 %

NVIDIA stock opened at $134.70 on Monday. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm’s 50-day simple moving average is $139.63 and its 200 day simple moving average is $127.32. The stock has a market cap of $3.30 trillion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

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, beating 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 company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. Research analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the transaction, the director now directly owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,556,986 shares of company stock worth $201,687,727 in the last quarter. 4.23% of the stock is owned by company insiders.

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.