Meridian Wealth Partners LLC Purchases 23,363 Shares of NVIDIA Co. (NASDAQ:NVDA)

Meridian Wealth Partners LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 816.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,225 shares of the computer hardware maker’s stock after acquiring an additional 23,363 shares during the period. NVIDIA comprises approximately 0.6% of Meridian Wealth Partners LLC’s portfolio, making the stock its 23rd biggest holding. Meridian Wealth Partners LLC’s holdings in NVIDIA were worth $3,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NVDA. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. increased its stake in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $26,000. CGC Financial Services LLC purchased a new position in NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the first quarter valued at $27,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $117.24, for a total transaction of $14,068,800.00. Following the completion of the sale, the chief executive officer now owns 78,054,995 shares of the company’s stock, valued at $9,151,167,613.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the transaction, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,876,270 shares of company stock worth $333,061,527 over the last three months. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the topic of several research reports. William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. DA Davidson restated a “neutral” rating and issued a $90.00 price objective on shares of NVIDIA in a research note on Thursday, August 29th. Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a report on Monday, August 26th. TD Cowen upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Raymond James boosted their price target on shares of NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.07.

NVIDIA Trading Up 4.1 %

Shares of NVDA stock opened at $143.71 on Tuesday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.53 trillion, a P/E ratio of 67.41, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The business has a 50-day moving average price of $122.58 and a two-hundred day moving average price of $112.92. NVIDIA Co. has a 12-month low of $39.23 and a 12-month high of $143.71.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. NVIDIA’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 1.88%.

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.