Meritage Portfolio Management Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Meritage Portfolio Management grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,863 shares of the computer hardware maker’s stock after buying an additional 177 shares during the period. Meritage Portfolio Management’s holdings in NVIDIA were worth $3,894,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lodestar Private Asset Management LLC increased its stake in shares of NVIDIA by 1.0% in the fourth quarter. Lodestar Private Asset Management LLC now owns 1,652 shares of the computer hardware maker’s stock worth $818,000 after acquiring an additional 17 shares during the period. Campbell Newman Asset Management Inc. increased its stake in shares of NVIDIA by 0.6% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock worth $1,481,000 after acquiring an additional 18 shares during the period. Kraft Davis & Associates LLC increased its stake in shares of NVIDIA by 0.6% in the fourth quarter. Kraft Davis & Associates LLC now owns 3,048 shares of the computer hardware maker’s stock worth $1,509,000 after acquiring an additional 18 shares during the period. Aprio Wealth Management LLC increased its stake in shares of NVIDIA by 1.8% in the fourth quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock worth $523,000 after acquiring an additional 19 shares during the period. Finally, Palumbo Wealth Management LLC increased its stake in shares of NVIDIA by 0.7% in the fourth quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock worth $1,395,000 after acquiring an additional 19 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA stock opened at $887.89 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The firm’s 50-day moving average is $865.39 and its two-hundred day moving average is $646.31. NVIDIA Co. has a 12 month low of $272.40 and a 12 month high of $974.00. The company has a market capitalization of $2.22 trillion, a PE ratio of 74.36, a price-to-earnings-growth ratio of 1.19 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. NVIDIA’s quarterly revenue was up 265.3% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research reports. Oppenheimer increased their price objective on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Evercore ISI assumed coverage on shares of NVIDIA in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,160.00 price target on the stock. CICC Research assumed coverage on shares of NVIDIA in a research report on Wednesday, March 6th. They set an “outperform” rating and a $870.00 price target on the stock. UBS Group raised their price target on shares of NVIDIA from $1,100.00 to $1,150.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, HSBC raised their price target on shares of NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $941.55.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock worth $52,689,898 over the last three months. Insiders own 3.99% of the company’s stock.

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.