Verition Fund Management LLC Decreases Position in NVIDIA Co. (NVDA)

Verition Fund Management LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 30.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,402 shares of the computer hardware maker’s stock after selling 1,494 shares during the period. Verition Fund Management LLC’s holdings in NVIDIA were worth $658,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in NVIDIA by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 7,194,300 shares of the computer hardware maker’s stock worth $1,389,500,000 after buying an additional 512,166 shares in the last quarter. Legal & General Group Plc raised its stake in NVIDIA by 2.8% in the third quarter. Legal & General Group Plc now owns 2,867,090 shares of the computer hardware maker’s stock worth $512,549,000 after buying an additional 78,943 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in NVIDIA by 2.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,265,682 shares of the computer hardware maker’s stock worth $438,409,000 after buying an additional 45,162 shares in the last quarter. Swiss National Bank raised its stake in NVIDIA by 0.9% in the fourth quarter. Swiss National Bank now owns 2,213,385 shares of the computer hardware maker’s stock worth $428,290,000 after buying an additional 19,900 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in NVIDIA by 4.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,027,499 shares of the computer hardware maker’s stock worth $392,322,000 after buying an additional 95,004 shares in the last quarter. 66.92% of the stock is owned by institutional investors.

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In other NVIDIA news, Director James C. Gaither sold 40,359 shares of NVIDIA stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $245.67, for a total value of $9,914,995.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark L. Perry sold 17,307 shares of NVIDIA stock in a transaction on Monday, February 12th. The stock was sold at an average price of $227.93, for a total transaction of $3,944,784.51. Following the completion of the transaction, the director now directly owns 30,762 shares of the company’s stock, valued at $7,011,582.66. The disclosure for this sale can be found here. Insiders sold a total of 57,769 shares of company stock valued at $13,883,276 over the last three months. Corporate insiders own 5.17% of the company’s stock.

A number of equities analysts recently issued reports on NVDA shares. Royal Bank of Canada reissued a “buy” rating on shares of NVIDIA in a research note on Friday, November 24th. Mizuho reissued a “buy” rating and issued a $225.00 price target on shares of NVIDIA in a research note on Tuesday, November 28th. Vetr raised shares of NVIDIA from a “hold” rating to a “buy” rating and set a $218.56 price target for the company in a research note on Wednesday, November 29th. ValuEngine downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Goldman Sachs restated a “buy” rating and issued a $228.00 price objective on shares of NVIDIA in a report on Friday, January 5th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $212.43.

Shares of NVDA stock opened at $249.58 on Wednesday. The company has a quick ratio of 7.34, a current ratio of 8.03 and a debt-to-equity ratio of 0.27. The stock has a market cap of $145,805.00, a price-to-earnings ratio of 51.78, a price-to-earnings-growth ratio of 3.78 and a beta of 1.43. NVIDIA Co. has a fifty-two week low of $95.49 and a fifty-two week high of $254.50.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, February 8th. The computer hardware maker reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.56. NVIDIA had a net margin of 31.36% and a return on equity of 45.02%. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the company posted $1.13 EPS. The business’s revenue was up 34.0% on a year-over-year basis. equities research analysts predict that NVIDIA Co. will post 6.22 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, February 23rd were paid a $0.15 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. NVIDIA’s payout ratio is currently 12.45%.

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About NVIDIA

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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