Meridian Wealth Advisors LLC Raises Stock Position in NVIDIA Corporation $NVDA

Meridian Wealth Advisors LLC increased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 52.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,076 shares of the computer hardware maker's stock after purchasing an additional 30,150 shares during the period. NVIDIA makes up 1.6% of Meridian Wealth Advisors LLC's portfolio, making the stock its 14th largest holding. Meridian Wealth Advisors LLC's holdings in NVIDIA were worth $9,546,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NVDA. Astoria Portfolio Advisors LLC. grew its position in NVIDIA by 0.9% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after purchasing an additional 864 shares during the last quarter. Centerpoint Advisory Group raised its position in shares of NVIDIA by 2.5% in the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock valued at $4,270,000 after buying an additional 943 shares during the last quarter. GSB Wealth Management LLC grew its holdings in shares of NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after purchasing an additional 1,043 shares during the period. Variant Private Wealth LLC boosted its stake in NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares during the period. Finally, Financial Perspectives Inc boosted its stake in shares of NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after purchasing an additional 1,265 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Needham & Company LLC boosted their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Morgan Stanley raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Bank of America lifted their price objective on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. BNP Paribas upgraded shares of NVIDIA to a "hold" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company upped their price objective on shares of NVIDIA from $185.00 to $220.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $186.33.

NVIDIA Price Performance

Shares of NVDA stock opened at $180.45 on Monday. The firm has a market cap of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The stock has a 50-day moving average price of $163.96 and a 200 day moving average price of $135.52. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The company's revenue was up 69.2% on a year-over-year basis. Research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,837,440 shares of company stock valued at $889,404,782. Corporate insiders own 4.17% of the company's stock.

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.

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