Versant Capital Management Inc Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Versant Capital Management Inc grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 46.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,905 shares of the computer hardware maker’s stock after acquiring an additional 8,852 shares during the period. NVIDIA comprises approximately 0.8% of Versant Capital Management Inc’s portfolio, making the stock its 25th biggest holding. Versant Capital Management Inc’s holdings in NVIDIA were worth $3,747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ironwood Wealth Management LLC. boosted its stake in shares of NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after purchasing an additional 5,695 shares during the period. Financial Guidance Group Inc. boosted its stake in shares of NVIDIA by 900.0% during the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 3,240 shares during the period. Tobam boosted its stake in shares of NVIDIA by 811.4% during the 2nd quarter. Tobam now owns 41,489 shares of the computer hardware maker’s stock worth $5,126,000 after purchasing an additional 36,937 shares during the period. Forum Financial Management LP boosted its stake in shares of NVIDIA by 808.0% during the 2nd quarter. Forum Financial Management LP now owns 144,878 shares of the computer hardware maker’s stock worth $17,898,000 after purchasing an additional 128,923 shares during the period. Finally, Heritage Family Offices LLP purchased a new position in shares of NVIDIA during the 2nd quarter worth about $257,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Truist Financial lifted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. DA Davidson lifted their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, HSBC decreased their price objective on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Trading Up 0.1 %

Shares of NVIDIA stock opened at $147.22 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $59.94 and a 12-month high of $153.13. The firm has a market capitalization of $3.61 trillion, a price-to-earnings ratio of 57.94, a PEG ratio of 2.54 and a beta of 1.64. The firm’s 50 day simple moving average is $138.70 and its two-hundred day simple moving average is $129.34.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the business posted $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Company 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.