NVIDIA Corporation (NASDAQ:NVDA) is Meritage Portfolio Management's 5th Largest Position

Key Points

• Meritage Portfolio Management increased its holdings in NVIDIA Corporation by 34.4%, now owning 386,854 shares valued at approximately $41.9 million, making NVIDIA its 5th largest position.
• Insider trading reveals that CEO Jen Hsun Huang sold 75,000 shares, reducing his stake by 0.10%, while CFO Colette Kress sold 27,650 shares, decreasing her ownership by 0.92%.
• Multiple analysts have set new price targets for NVIDIA, with the average target being $181.22, reflecting a generally positive sentiment despite a recent downgrade to "hold" by HSBC Global Research.

Meritage Portfolio Management raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 34.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,854 shares of the computer hardware maker's stock after acquiring an additional 99,043 shares during the quarter. NVIDIA makes up 2.8% of Meritage Portfolio Management's investment portfolio, making the stock its 5th largest holding. Meritage Portfolio Management's holdings in NVIDIA were worth $41,927,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management bought a new stake in NVIDIA during the 4th quarter worth $50,000. Barnes Dennig Private Wealth Management LLC bought a new stake in NVIDIA during the 1st quarter worth $51,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. Jefferies Financial Group boosted their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective for the company. Barclays upped their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, June 17th. Finally, Oppenheimer increased their target price on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $182.03.

NVIDIA Trading Up 0.0%

NVDA stock traded up $0.01 during trading on Thursday, hitting $179.28. The company had a trading volume of 78,538,820 shares, compared to its average volume of 248,032,719. The business has a 50-day moving average of $153.55 and a 200-day moving average of $131.72. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30. The stock has a market cap of $4.37 trillion, a PE ratio of 57.69, a PEG ratio of 1.55 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. 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 prior year, the business earned $0.61 earnings per share. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. Research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insider Activity

In related news, CFO Colette Kress sold 27,650 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the sale, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of NVIDIA stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the transaction, the director directly owned 1,729,478 shares in the company, valued at $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,264,800 shares of company stock worth $786,735,503. 4.17% of the stock is currently owned by insiders.

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.