Meritage Portfolio Management Purchases 54,797 Shares of NVIDIA Co. (NASDAQ:NVDA)

Meritage Portfolio Management lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 23.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 287,811 shares of the computer hardware maker’s stock after acquiring an additional 54,797 shares during the period. NVIDIA makes up 2.4% of Meritage Portfolio Management’s portfolio, making the stock its 5th largest position. Meritage Portfolio Management’s holdings in NVIDIA were worth $38,650,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NVDA. Vestia Personal Wealth Advisors increased its position in shares of NVIDIA by 87.4% during the 4th quarter. Vestia Personal Wealth Advisors now owns 6,991 shares of the computer hardware maker’s stock worth $939,000 after purchasing an additional 3,260 shares during the last quarter. Confluence Wealth Services Inc. increased its position in shares of NVIDIA by 6.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 57,731 shares of the computer hardware maker’s stock worth $8,499,000 after purchasing an additional 3,389 shares during the last quarter. Country Club Bank grew its position in NVIDIA by 0.6% in the 4th quarter. Country Club Bank now owns 178,149 shares of the computer hardware maker’s stock valued at $24,494,000 after acquiring an additional 1,042 shares in the last quarter. WT Asset Management Ltd grew its position in NVIDIA by 156.3% in the 4th quarter. WT Asset Management Ltd now owns 1,034,860 shares of the computer hardware maker’s stock valued at $138,971,000 after acquiring an additional 631,060 shares in the last quarter. Finally, Virginia Wealth Management Group Inc. acquired a new position in NVIDIA in the 4th quarter valued at about $201,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the sale, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,107,632 shares of company stock valued at $146,405,286 over the last quarter. Company insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NVDA. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research report on Monday, February 24th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, February 20th. Evercore ISI lifted their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Bank of America lifted their target price on NVIDIA from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.62.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $117.30 on Thursday. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $132.73 and a two-hundred day moving average of $131.90. The stock has a market cap of $2.86 trillion, a P/E ratio of 46.16, a P/E/G ratio of 1.76 and a beta of 1.77.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

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.