Verus Wealth Management LLC Invests $940,000 in NVIDIA Co. (NASDAQ:NVDA)

Verus Wealth Management LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,997 shares of the computer hardware maker’s stock, valued at approximately $940,000. NVIDIA makes up about 1.1% of Verus Wealth Management LLC’s investment portfolio, making the stock its 26th biggest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after purchasing an additional 11,525,969 shares in the last quarter. Legal & General Group Plc lifted its position in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after acquiring an additional 191,469,114 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in NVIDIA by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after acquiring an additional 6,526,200 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after acquiring an additional 2,042,348 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVDA. The Goldman Sachs Group upped their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Wedbush reiterated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $168.21.

NVIDIA Trading Down 4.1 %

NVDA opened at $134.35 on Friday. The stock has a market capitalization of $3.29 trillion, a PE ratio of 52.87, a P/E/G ratio of 1.76 and a beta of 1.62. The firm’s fifty day moving average price is $134.66 and its 200 day moving average price is $131.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12-month low of $74.22 and a 12-month high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last quarter. 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.