Veridan Wealth LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Veridan Wealth LLC bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,055 shares of the computer hardware maker's stock, valued at approximately $1,350,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Waterway Wealth Management LLC boosted its position in shares of NVIDIA by 3.1% during the fourth quarter. Waterway Wealth Management LLC now owns 30,842 shares of the computer hardware maker's stock valued at $4,142,000 after purchasing an additional 934 shares in the last quarter. Fortress Financial Group LLC bought a new position in NVIDIA in the fourth quarter worth $580,000. Dynasty Wealth Management LLC purchased a new position in NVIDIA during the fourth quarter valued at $345,000. First American Bank boosted its holdings in shares of NVIDIA by 0.6% during the 4th quarter. First American Bank now owns 370,991 shares of the computer hardware maker's stock valued at $49,820,000 after buying an additional 2,343 shares in the last quarter. Finally, Gordian Advisors LLC grew its position in shares of NVIDIA by 5.0% in the 4th quarter. Gordian Advisors LLC now owns 2,372 shares of the computer hardware maker's stock worth $319,000 after buying an additional 112 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $94.31 on Friday. The business's fifty day moving average is $121.20 and its 200 day moving average is $130.96. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $2.30 trillion, a PE ratio of 37.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96.

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NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Sell-side analysts predict that NVIDIA Co. 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 Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NVDA. Truist Financial lifted their price target on shares of NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Rosenblatt Securities reiterated a "buy" rating and set a $220.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Wedbush restated an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, February 20th. Susquehanna reiterated a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Summit Insights cut NVIDIA from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $169.89.

Insider Activity

In related news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares of the company's stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,609 shares of company stock worth $22,642,615 in the last three months. Company insiders own 4.23% of the company's stock.

NVIDIA Profile

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.

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