Verity Asset Management Inc. Decreases Stake in NVIDIA Co. (NASDAQ:NVDA)

Verity Asset Management Inc. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 20.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,822 shares of the computer hardware maker’s stock after selling 4,052 shares during the quarter. NVIDIA makes up approximately 1.1% of Verity Asset Management Inc.’s portfolio, making the stock its 16th largest holding. Verity Asset Management Inc.’s holdings in NVIDIA were worth $2,125,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the 3rd quarter worth approximately $27,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the fourth quarter worth $34,000. West Financial Advisors LLC bought a new position in shares of NVIDIA in the third quarter worth $36,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at $40,000. Finally, DHJJ Financial Advisors Ltd. grew its position in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The stock was 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 owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,107,632 shares of company stock worth $146,405,286. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $114.06 on Tuesday. The business has a 50 day moving average of $133.68 and a 200 day moving average of $132.06. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a market cap of $2.78 trillion, a PE ratio of 44.89, a P/E/G ratio of 1.76 and a beta of 1.62. 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 issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Morgan Stanley reissued an “overweight” rating and issued a $162.00 price target (up from $152.00) on shares of NVIDIA in a report on Wednesday, February 26th. Bank of America raised their price objective on shares of NVIDIA from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Citigroup upped their target price on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Stifel Nicolaus raised their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.62.

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.