Meridiem Investment Management Ltd. Has $152,000 Holdings in NVIDIA Co. (NASDAQ:NVDA)

Meridiem Investment Management Ltd. reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 40.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,250 shares of the computer hardware maker’s stock after selling 850 shares during the quarter. Meridiem Investment Management Ltd.’s holdings in NVIDIA were worth $152,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kraft Asset Management LLC raised its position in shares of NVIDIA by 21.3% in the third quarter. Kraft Asset Management LLC now owns 3,969 shares of the computer hardware maker’s stock valued at $482,000 after purchasing an additional 696 shares during the period. Clarity Wealth Advisors LLC lifted its position in shares of NVIDIA by 1.5% in the 3rd quarter. Clarity Wealth Advisors LLC now owns 57,145 shares of the computer hardware maker’s stock worth $6,940,000 after purchasing an additional 841 shares during the period. Gries Financial LLC lifted its position in shares of NVIDIA by 63.9% in the 3rd quarter. Gries Financial LLC now owns 52,197 shares of the computer hardware maker’s stock worth $6,339,000 after purchasing an additional 20,350 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. increased its stake in shares of NVIDIA by 40.9% in the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 62,000 shares of the computer hardware maker’s stock valued at $7,529,000 after acquiring an additional 18,000 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt increased its stake in NVIDIA by 44.3% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 3,969,500 shares of the computer hardware maker’s stock valued at $482,255,000 after purchasing an additional 1,218,500 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Down 3.2 %

NVIDIA stock opened at $141.95 on Monday. The company has a market capitalization of $3.48 trillion, a PE ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66. The firm’s fifty day moving average is $134.01 and its 200 day moving average is $122.51. The company has a quick ratio of 3.79, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $45.01 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $33.15 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The company’s revenue was up 93.6% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Co. will post 2.68 EPS for the current fiscal year.

NVIDIA announced that its board has approved a share buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s 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 sale, the director now directly owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % 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. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $105.33, for a total value of $12,639,600.00. Following the sale, the chief executive officer now owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. This trade represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on NVDA shares. Benchmark upped their price objective on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday. Citigroup lifted their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus boosted their price objective on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Barclays upped their target price on NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Truist Financial increased their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $164.15.

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.