NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Meridian Financial Partners LLC

Meridian Financial Partners LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,587 shares of the computer hardware maker’s stock after acquiring an additional 1,723 shares during the quarter. NVIDIA accounts for approximately 1.5% of Meridian Financial Partners LLC’s holdings, making the stock its 15th largest position. Meridian Financial Partners LLC’s holdings in NVIDIA were worth $2,864,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in shares of NVIDIA in the first quarter worth about $26,000. CGC Financial Services LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in NVIDIA during the first quarter valued at approximately $27,000. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. This represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVDA. Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. William Blair assumed coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Barclays boosted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday. HSBC boosted their price target on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Susquehanna upped their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Price Performance

Shares of NVDA opened at $141.95 on Monday. The company has a current ratio of 4.10, a quick ratio of 3.79 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The firm has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66. The firm’s fifty day simple moving average is $134.01 and its 200-day simple moving average is $122.51.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. Equities analysts forecast that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has initiated a stock buyback plan 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 plans are typically an indication that the company’s board believes its stock is undervalued.

NVIDIA Announces Dividend

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

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.