Verity Asset Management Inc. Sells 847 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Verity Asset Management Inc. cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,975 shares of the computer hardware maker’s stock after selling 847 shares during the quarter. Verity Asset Management Inc.’s holdings in NVIDIA were worth $1,623,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC increased its holdings in NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp increased its holdings in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. Proficio Capital Partners LLC increased its holdings in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after buying an additional 34,441,082 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock valued at $3,864,026,000 after buying an additional 23,948,733 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research reports. UBS Group reiterated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. Truist Financial boosted their target price on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, Oppenheimer boosted their target price on shares of NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $181.22.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,964,800 shares of company stock valued at $734,906,003. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $167.03 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $174.25. The stock has a market capitalization of $4.08 trillion, a P/E ratio of 53.88, a PEG ratio of 1.51 and a beta of 2.13. The company has a 50 day moving average price of $146.99 and a 200 day moving average price of $129.81.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.29%.

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.