Verus Wealth Management LLC Purchases Shares of 6,997 NVIDIA Co. (NASDAQ:NVDA)

Verus Wealth Management LLC purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 6,997 shares of the computer hardware maker’s stock, valued at approximately $940,000. NVIDIA comprises about 1.1% of Verus Wealth Management LLC’s portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new stake in NVIDIA in the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA in the 2nd quarter worth about $31,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the 4th quarter worth about $34,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA in the 3rd quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Rosenblatt Securities restated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a report on Wednesday, January 8th. Susquehanna lifted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Tuesday, January 7th. Finally, Piper Sandler lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $168.21.

NVIDIA Trading Down 4.1 %

NASDAQ NVDA opened at $134.35 on Friday. The business’s 50-day moving average price is $134.66 and its two-hundred day moving average price is $131.33. NVIDIA Co. has a 12 month low of $74.22 and a 12 month high of $153.13. The firm has a market capitalization of $3.29 trillion, a PE ratio of 52.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. On average, analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last ninety days. 4.23% of the stock is currently owned by insiders.

About NVIDIA

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.