NVIDIA Co. (NASDAQ:NVDA) Stake Raised by Meridian Wealth Management LLC

Meridian Wealth Management LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 795,452 shares of the computer hardware maker’s stock after buying an additional 8,120 shares during the period. NVIDIA comprises 4.7% of Meridian Wealth Management LLC’s investment portfolio, making the stock its largest holding. Meridian Wealth Management LLC’s holdings in NVIDIA were worth $96,600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Lantz Financial LLC grew its holdings in NVIDIA by 833.1% during the 2nd quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after acquiring an additional 36,774 shares in the last quarter. Ironwood Wealth Management LLC. grew its holdings in NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after acquiring an additional 5,695 shares in the last quarter. Xcel Wealth Management LLC grew its holdings in NVIDIA by 885.9% during the 2nd quarter. Xcel Wealth Management LLC now owns 90,917 shares of the computer hardware maker’s stock worth $11,232,000 after acquiring an additional 81,695 shares in the last quarter. Burns J W & Co. Inc. NY grew its holdings in NVIDIA by 1,050.2% during the 2nd quarter. Burns J W & Co. Inc. NY now owns 106,044 shares of the computer hardware maker’s stock worth $13,101,000 after acquiring an additional 96,824 shares in the last quarter. Finally, Eads & Heald Wealth Management grew its holdings in NVIDIA by 873.2% during the 2nd quarter. Eads & Heald Wealth Management now owns 59,864 shares of the computer hardware maker’s stock worth $7,396,000 after acquiring an additional 53,713 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on NVDA. Wedbush boosted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. TD Cowen upped their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Melius Research upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Bank of America restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Stock Performance

Shares of NVDA opened at $140.11 on Thursday. The company has a 50-day simple moving average of $139.74 and a 200-day simple moving average of $128.46. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.43 trillion, a PE ratio of 55.14, a P/E/G ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52-week low of $51.69 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 business’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 EPS. Equities research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) 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.