Veritable L.P. Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Veritable L.P. lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,408 shares of the computer hardware maker’s stock after selling 998 shares during the quarter. NVIDIA comprises about 0.5% of Veritable L.P.’s portfolio, making the stock its 25th biggest holding. Veritable L.P.’s holdings in NVIDIA were worth $30,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. United Bank raised its holdings in NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after acquiring an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in NVIDIA by 6.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after acquiring an additional 249,045 shares in the last quarter. MAS Advisors LLC raised its holdings in NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after acquiring an additional 583 shares in the last quarter. Navis Wealth Advisors LLC increased its stake in NVIDIA by 205.3% in the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after purchasing an additional 1,950 shares during the last quarter. Finally, Ergoteles LLC purchased a new position in NVIDIA in the first quarter valued at approximately $929,000. Institutional investors and hedge funds own 64.79% of the company’s stock.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total value of $13,478,648.88. Following the transaction, the chief executive officer now directly owns 7,918,875 shares of the company’s stock, valued at approximately $3,595,248,438.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Colette Kress sold 4,980 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $460.74, for a total value of $2,294,485.20. Following the completion of the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at approximately $230,106,456.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total value of $13,478,648.88. Following the completion of the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,232 shares of company stock valued at $67,606,089. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Stock Up 2.3 %

Shares of NASDAQ:NVDA opened at $504.09 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79. NVIDIA Co. has a 1 year low of $138.84 and a 1 year high of $505.48. The stock has a market capitalization of $1.25 trillion, a P/E ratio of 121.76, a PEG ratio of 3.80 and a beta of 1.69. The stock has a 50-day simple moving average of $445.22 and a 200-day simple moving average of $425.77.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. The business had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The company’s revenue for the quarter was up 101.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Equities analysts forecast that NVIDIA Co. will post 9.66 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.

Wall Street Analyst Weigh In

Several equities analysts have commented on NVDA shares. Jefferies Financial Group increased their price target on shares of NVIDIA from $500.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Susquehanna increased their price target on shares of NVIDIA from $575.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 24th. Stifel Nicolaus restated a “buy” rating and set a $600.00 target price on shares of NVIDIA in a research report on Friday. Bank of America raised their target price on shares of NVIDIA from $550.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, Mizuho raised their target price on shares of NVIDIA from $530.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $571.49.

NVIDIA Company Profile

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.