Verity Asset Management Inc. Sells 2,668 Shares of NVIDIA Co. (NASDAQ:NVDA)

Verity Asset Management Inc. cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 11.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,874 shares of the computer hardware maker’s stock after selling 2,668 shares during the quarter. NVIDIA makes up about 0.9% of Verity Asset Management Inc.’s holdings, 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.

Several other institutional investors also recently modified their holdings of NVDA. Vista Capital Partners Inc. grew its holdings in NVIDIA by 59.4% in the third quarter. Vista Capital Partners Inc. now owns 9,491 shares of the computer hardware maker’s stock worth $1,153,000 after purchasing an additional 3,535 shares during the period. Hudson Value Partners LLC boosted its position in shares of NVIDIA by 11.8% in the 3rd quarter. Hudson Value Partners LLC now owns 38,758 shares of the computer hardware maker’s stock worth $4,707,000 after purchasing an additional 4,083 shares in the last quarter. Sittner & Nelson LLC grew its stake in shares of NVIDIA by 2.2% in the 3rd quarter. Sittner & Nelson LLC now owns 45,018 shares of the computer hardware maker’s stock worth $5,467,000 after buying an additional 957 shares during the last quarter. LS Investment Advisors LLC increased its position in NVIDIA by 9.4% during the 3rd quarter. LS Investment Advisors LLC now owns 49,336 shares of the computer hardware maker’s stock valued at $5,991,000 after buying an additional 4,251 shares in the last quarter. Finally, Mine & Arao Wealth Creation & Management LLC. raised its stake in NVIDIA by 0.8% during the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 70,675 shares of the computer hardware maker’s stock valued at $8,583,000 after buying an additional 552 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In other 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 transaction of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,556,986 shares of company stock valued at $201,687,727. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 3.1 %

Shares of NASDAQ NVDA opened at $134.70 on Monday. The stock has a fifty day moving average price of $139.63 and a 200 day moving average price of $127.32. The company has a market cap of $3.30 trillion, a P/E ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89. 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 released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. Research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA declared that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on NVDA. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Mizuho boosted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Piper Sandler upped their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Evercore ISI lifted their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Stifel Nicolaus upped their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Four investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

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.