Meridiem Capital Partners LP Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Meridiem Capital Partners LP acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 310,486 shares of the computer hardware maker’s stock, valued at approximately $41,695,000. NVIDIA comprises approximately 3.7% of Meridiem Capital Partners LP’s holdings, making the stock its 4th largest holding.

Other large investors have also bought and sold shares of the company. FMR LLC boosted its stake in NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank bought a new stake in NVIDIA in the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp raised its position in shares of NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 in the last ninety days. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $135.50 on Wednesday. The stock has a 50-day moving average of $114.51 and a two-hundred day moving average of $126.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $3.31 trillion, a P/E ratio of 53.33, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a one year low of $86.62 and a one year high of $195.95.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. As a group, research analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on NVDA. Wedbush lowered NVIDIA from an “outperform” rating to a “cautious” rating in a research report on Friday. Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Citigroup reiterated a “buy” rating on shares of NVIDIA in a research report on Wednesday, April 16th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.53.

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.