Meritage Portfolio Management Has $28.30 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Meritage Portfolio Management lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 71.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,014 shares of the computer hardware maker’s stock after purchasing an additional 97,282 shares during the period. NVIDIA accounts for approximately 1.7% of Meritage Portfolio Management’s investment portfolio, making the stock its 6th biggest holding. Meritage Portfolio Management’s holdings in NVIDIA were worth $28,297,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its holdings in NVIDIA by 1.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,588,348 shares of the computer hardware maker’s stock valued at $192,889,000 after buying an additional 19,001 shares in the last quarter. Sanctuary Wealth Management L.L.C. boosted its position in shares of NVIDIA by 9.5% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 8,340 shares of the computer hardware maker’s stock valued at $1,013,000 after acquiring an additional 724 shares during the period. Tyler Stone Wealth Management grew its stake in shares of NVIDIA by 102.5% in the third quarter. Tyler Stone Wealth Management now owns 347,440 shares of the computer hardware maker’s stock valued at $42,193,000 after acquiring an additional 175,903 shares in the last quarter. Truxt Investmentos Ltda. bought a new position in NVIDIA during the third quarter worth about $3,259,000. Finally, Round Rock Advisors LLC increased its position in NVIDIA by 2.1% during the third quarter. Round Rock Advisors LLC now owns 14,863 shares of the computer hardware maker’s stock worth $1,805,000 after acquiring an additional 309 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the transaction, the director now directly owns 8,255,117 shares of the company’s stock, valued at approximately $1,012,159,895.37. The trade was a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,351,886 shares of company stock worth $176,825,650 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of analyst reports. Barclays increased their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Citigroup increased their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Evercore ISI raised their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Loop Capital reiterated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Finally, Stifel Nicolaus raised their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Trading Down 0.2 %

Shares of NVDA stock opened at $139.93 on Friday. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.07, a PEG ratio of 2.43 and a beta of 1.64. The stock has a 50-day moving average of $139.99 and a 200-day moving average of $127.80.

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

NVIDIA Announces Dividend

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

About NVIDIA

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.