Verition Fund Management LLC Invests $1.52 Million in NVIDIA Co. (NVDA)

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Verition Fund Management LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,426 shares of the computer hardware maker’s stock, valued at approximately $1,522,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kwmg LLC purchased a new position in NVIDIA during the second quarter worth about $105,000. Legacy Financial Advisors Inc. raised its stake in NVIDIA by 111.0% during the second quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock worth $110,000 after purchasing an additional 233 shares during the period. Bruderman Asset Management LLC purchased a new position in NVIDIA during the first quarter worth about $127,000. Almanack Investment Partners LLC. purchased a new position in NVIDIA during the second quarter worth about $127,000. Finally, Ropes Wealth Advisors LLC raised its stake in NVIDIA by 561.8% during the second quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock worth $140,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 65.69% of the company’s stock.

NVDA traded up $11.41 during trading hours on Friday, hitting $246.54. 15,113,097 shares of the company’s stock were exchanged, compared to its average volume of 12,731,036. NVIDIA Co. has a 12-month low of $180.58 and a 12-month high of $292.76. The company has a market cap of $170.86 billion, a P/E ratio of 52.79, a PEG ratio of 3.68 and a beta of 1.64. The company has a quick ratio of 6.66, a current ratio of 7.41 and a debt-to-equity ratio of 0.23.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.28. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 7.15 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Thursday, August 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, August 29th. NVIDIA’s payout ratio is currently 12.85%.

In other NVIDIA news, EVP Ajay K. Puri sold 90,831 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the completion of the transaction, the executive vice president now owns 184,001 shares in the company, valued at approximately $53,240,689.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 11,576 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $266.31, for a total transaction of $3,082,804.56. Following the transaction, the chief financial officer now owns 297,482 shares of the company’s stock, valued at approximately $79,222,431.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,707 shares of company stock worth $32,347,973. 4.70% of the stock is owned by insiders.

A number of equities analysts have commented on NVDA shares. Benchmark started coverage on shares of NVIDIA in a research note on Tuesday, June 26th. They set a “buy” rating and a $280.00 target price on the stock. BidaskClub downgraded shares of NVIDIA from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Goldman Sachs Group lifted their target price on shares of NVIDIA from $310.00 to $324.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Needham & Company LLC boosted their price target on shares of NVIDIA from $325.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Finally, Bank of America boosted their price target on shares of NVIDIA from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 25th. Ten equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $293.09.

About NVIDIA

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

See Also: Beta

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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