Merrion Investment Management Co LLC Raises Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Merrion Investment Management Co LLC increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 669.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,500 shares of the computer hardware maker's stock after buying an additional 59,600 shares during the period. NVIDIA accounts for approximately 5.3% of Merrion Investment Management Co LLC's holdings, making the stock its 5th biggest holding. Merrion Investment Management Co LLC's holdings in NVIDIA were worth $7,424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wealth Group Ltd. lifted its position in NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after purchasing an additional 100 shares during the period. Tallon Kerry Patrick acquired a new position in NVIDIA during the 4th quarter valued at about $972,000. Capital & Planning LLC lifted its position in NVIDIA by 16.9% during the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after purchasing an additional 1,099 shares during the period. Ironwood Wealth Management LLC. lifted its position in NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after purchasing an additional 104 shares during the period. Finally, Brighton Jones LLC lifted its position in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after purchasing an additional 35,815 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Hsbc Global Res downgraded shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Rosenblatt Securities increased their price target on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Benchmark reiterated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. William Blair reiterated an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.47.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $158.35, for a total transaction of $11,876,250.00. Following the completion of the sale, the chief executive officer owned 75,023,225 shares of the company's stock, valued at $11,879,927,678.75. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director A Brooke Seawell sold 50,514 shares of NVIDIA stock in a transaction on Monday, July 7th. The stock was sold at an average price of $158.37, for a total value of $7,999,902.18. Following the sale, the director directly owned 1,974,784 shares of the company's stock, valued at $312,746,542.08. This represents a 2.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,296,844 shares of company stock valued at $624,019,677 in the last ninety days. Insiders own 4.17% of the company's stock.

NVIDIA Stock Up 1.1%

Shares of NASDAQ NVDA traded up $1.76 during trading hours on Tuesday, hitting $160.00. The company had a trading volume of 137,191,824 shares, compared to its average volume of 267,323,344. The stock has a market capitalization of $3.90 trillion, a P/E ratio of 51.61, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13. 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 Corporation has a 1-year low of $86.62 and a 1-year high of $160.98. The firm's 50 day moving average is $137.37 and its 200-day moving average is $127.97.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. On average, analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.

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.