Verus Financial Partners Inc. Sells 295 Shares of NVIDIA Corporation $NVDA

Verus Financial Partners Inc. lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 13.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,975 shares of the computer hardware maker’s stock after selling 295 shares during the quarter. Verus Financial Partners Inc.’s holdings in NVIDIA were worth $222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Copia Wealth Management purchased a new position in NVIDIA during the 4th quarter worth $50,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of NVIDIA in the 1st quarter worth about $51,000. Bruce G. Allen Investments LLC boosted its holdings in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after buying an additional 327 shares during the last quarter. LSV Asset Management purchased a new position in shares of NVIDIA in the 4th quarter worth about $54,000. Finally, Delos Wealth Advisors LLC boosted its holdings in shares of NVIDIA by 134.8% in the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock worth $66,000 after buying an additional 283 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% 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, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,837,440 shares of company stock worth $889,404,782 in the last ninety days. 4.17% of the stock is owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $180.45 on Monday. The stock has a fifty day moving average of $163.96 and a 200 day moving average of $135.52. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48. The firm has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.59 and a beta of 2.14. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

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

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued 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 0.0%. NVIDIA’s dividend payout ratio is 1.29%.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. TD Cowen boosted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Barclays boosted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, June 17th. Bank of America boosted their price objective on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Finally, DA Davidson boosted their price objective on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $186.33.

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.