Merrion Investment Management Co LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 20th, 2023

Merrion Investment Management Co LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA – Get Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 750 shares of the computer hardware maker’s stock, valued at approximately $208,000.

Other hedge funds have also added to or reduced their stakes in the company. GoalVest Advisory LLC boosted its holdings in NVIDIA by 124.1% in the fourth quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock worth $28,000 after acquiring an additional 108 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in NVIDIA in the fourth quarter worth $34,000. Financial Connections Group Inc. boosted its holdings in NVIDIA by 605.7% in the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after acquiring an additional 212 shares in the last quarter. NewSquare Capital LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $37,000. Finally, Chelsea Counsel Co. purchased a new position in shares of NVIDIA in the fourth quarter worth $37,000. 64.00% of the stock is owned by institutional investors.

Insider Activity at NVIDIA

In related news, Director Dawn E. Hudson sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $274.55, for a total transaction of $1,372,750.00. Following the completion of the transaction, the director now directly owns 85,350 shares of the company’s stock, valued at $23,432,842.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other NVIDIA news, Director Dawn E. Hudson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $274.55, for a total transaction of $1,372,750.00. Following the sale, the director now directly owns 85,350 shares in the company, valued at $23,432,842.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 6,124 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $406.51, for a total value of $2,489,467.24. Following the sale, the chief financial officer now owns 538,745 shares in the company, valued at $219,005,229.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,386 shares of company stock valued at $97,248,000. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $426.92 on Tuesday. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 222.36, a price-to-earnings-growth ratio of 2.95 and a beta of 1.75. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $324.87 and a 200-day moving average price of $247.99. NVIDIA Co. has a twelve month low of $108.13 and a twelve month high of $437.21.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The firm had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same quarter in the prior year, the company posted $1.18 earnings per share. The business’s quarterly revenue was down 13.2% compared to the same quarter last year. As a group, equities research analysts predict that NVIDIA Co. will post 6.29 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 8th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Wednesday, June 7th. NVIDIA’s payout ratio is presently 8.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup boosted their price target on NVIDIA from $363.00 to $420.00 in a research note on Thursday, May 25th. Westpark Capital assumed coverage on NVIDIA in a research note on Wednesday, March 22nd. They issued a “hold” rating for the company. Cowen boosted their price target on NVIDIA from $240.00 to $260.00 in a research note on Thursday, February 23rd. TD Cowen boosted their price target on NVIDIA from $260.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 22nd. Finally, KeyCorp boosted their price target on NVIDIA from $320.00 to $375.00 in a research note on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-nine have issued a buy rating and one has given 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 an average target price of $382.43.

NVIDIA Company Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.