Meridian Management Co. Sells 3,932 Shares of NVIDIA Corporation $NVDA

Meridian Management Co. lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 64.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,179 shares of the computer hardware maker’s stock after selling 3,932 shares during the quarter. Meridian Management Co.’s holdings in NVIDIA were worth $236,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Brio Consultants LLC grew its position in NVIDIA by 1,479.4% during the first quarter. Brio Consultants LLC now owns 311,649 shares of the computer hardware maker’s stock valued at $33,777,000 after buying an additional 291,917 shares during the period. University of Texas Texas AM Investment Management Co. grew its position in NVIDIA by 2.4% during the first quarter. University of Texas Texas AM Investment Management Co. now owns 172,887 shares of the computer hardware maker’s stock valued at $18,737,000 after buying an additional 4,116 shares during the period. Shoker Investment Counsel Inc. grew its position in NVIDIA by 1.0% during the first quarter. Shoker Investment Counsel Inc. now owns 29,355 shares of the computer hardware maker’s stock valued at $3,182,000 after buying an additional 304 shares during the period. Richards Merrill & Peterson Inc. grew its position in NVIDIA by 25.6% during the first quarter. Richards Merrill & Peterson Inc. now owns 32,913 shares of the computer hardware maker’s stock valued at $3,567,000 after buying an additional 6,706 shares during the period. Finally, Wealthstream Advisors Inc. grew its position in NVIDIA by 2.5% during the first quarter. Wealthstream Advisors Inc. now owns 25,901 shares of the computer hardware maker’s stock valued at $2,807,000 after buying an additional 635 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $179.76, for a total value of $13,482,000.00. Following the sale, the chief executive officer directly owned 72,848,225 shares of the company’s stock, valued at $13,095,196,926. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,912,440 shares of company stock worth $902,886,782 over the last ninety days. 4.17% of the stock is currently owned by insiders.

NVIDIA Trading Up 1.1%

Shares of NVDA opened at $181.77 on Wednesday. The firm’s 50 day simple moving average is $168.81 and its 200 day simple moving average is $138.11. The company has a market capitalization of $4.44 trillion, a P/E ratio of 58.64, a P/E/G ratio of 1.57 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NVDA shares. Evercore ISI increased their price target on shares of NVIDIA from $190.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, August 22nd. DA Davidson upped their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Barclays upped their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Needham & Company LLC upped their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Finally, Stifel Nicolaus upped their price objective on shares of NVIDIA from $202.00 to $212.00 and gave the company a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $194.31.

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.