Meridian Financial Partners LLC Has $2.86 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Meridian Financial Partners LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,587 shares of the computer hardware maker’s stock after buying an additional 1,723 shares during the quarter. NVIDIA makes up 1.5% of Meridian Financial Partners LLC’s portfolio, making the stock its 15th largest position. Meridian Financial Partners LLC’s holdings in NVIDIA were worth $2,864,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. IFG Advisors LLC boosted its position in shares of NVIDIA by 7.2% during the 3rd quarter. IFG Advisors LLC now owns 25,823 shares of the computer hardware maker’s stock worth $3,136,000 after acquiring an additional 1,736 shares in the last quarter. Mogy Joel R Investment Counsel Inc. grew its stake in NVIDIA by 0.3% in the 3rd quarter. Mogy Joel R Investment Counsel Inc. now owns 1,441,091 shares of the computer hardware maker’s stock valued at $175,006,000 after purchasing an additional 3,670 shares during the period. Riverview Trust Co lifted its position in shares of NVIDIA by 0.8% during the 3rd quarter. Riverview Trust Co now owns 18,235 shares of the computer hardware maker’s stock valued at $2,214,000 after buying an additional 145 shares during the last quarter. Moss Adams Wealth Advisors LLC lifted its holdings in NVIDIA by 26.4% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 57,613 shares of the computer hardware maker’s stock worth $6,997,000 after purchasing an additional 12,025 shares in the last quarter. Finally, Generate Investment Management Ltd raised its holdings in shares of NVIDIA by 30.8% in the 3rd quarter. Generate Investment Management Ltd now owns 766,010 shares of the computer hardware maker’s stock valued at $93,020,000 after acquiring an additional 180,401 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NVDA shares. Citigroup raised their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. Melius Research lifted their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. UBS Group boosted their price objective on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Redburn Atlantic initiated coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. Finally, Robert W. Baird increased their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $110.76, for a total value of $13,291,200.00. Following the transaction, the chief executive officer now owns 76,375,705 shares of the company’s stock, valued at approximately $8,459,373,085.80. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock worth $254,784,327. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Down 3.2 %

NASDAQ NVDA opened at $141.95 on Monday. The stock has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 55.89, a PEG ratio of 1.53 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.79. The business’s fifty day moving average is $134.01 and its 200-day moving average is $122.51.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the firm earned $0.38 EPS. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. Equities research analysts predict that NVIDIA Co. will post 2.68 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.