First Merchants Corp Has $5.14 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 14th, 2023

First Merchants Corp decreased its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,506 shares of the computer hardware maker’s stock after selling 356 shares during the period. First Merchants Corp’s holdings in NVIDIA were worth $5,140,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NVDA. United Bank grew its stake in shares of NVIDIA by 28.9% in the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after buying an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NVIDIA by 6.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after buying an additional 249,045 shares in the last quarter. MAS Advisors LLC boosted its position in NVIDIA by 42.1% during the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock worth $545,000 after purchasing an additional 583 shares during the period. Navis Wealth Advisors LLC boosted its position in NVIDIA by 205.3% during the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $791,000 after purchasing an additional 1,950 shares during the period. Finally, Ergoteles LLC bought a new stake in NVIDIA during the first quarter worth approximately $929,000. Institutional investors and hedge funds own 64.00% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent analyst reports. Needham & Company LLC upped their target price on NVIDIA from $300.00 to $460.00 in a research report on Thursday, May 25th. HSBC raised NVIDIA from a “reduce” rating to a “buy” rating and upped their target price for the stock from $175.00 to $355.00 in a research report on Tuesday, April 18th. Morgan Stanley upped their target price on NVIDIA from $450.00 to $500.00 and gave the stock an “overweight” rating in a research report on Friday, June 16th. Barclays increased their price objective on NVIDIA from $275.00 to $500.00 in a research report on Thursday, May 25th. Finally, BNP Paribas raised NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 price objective for the company in a research report on Tuesday, March 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $405.41.

NVIDIA Price Performance

NVIDIA stock opened at $459.77 on Friday. The business’s 50-day simple moving average is $379.59 and its 200 day simple moving average is $279.21. The stock has a market cap of $1.14 trillion, a price-to-earnings ratio of 239.46, a P/E/G ratio of 2.91 and a beta of 1.74. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $461.55. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.17. The business had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. The firm’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.18 earnings per share. As a group, research analysts anticipate that NVIDIA Co. will post 6.33 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, June 7th. NVIDIA’s dividend payout ratio is 8.33%.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 283 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the transaction, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The sale was disclosed in a document filed with the SEC, which is available through this link. In other NVIDIA news, Director John Dabiri sold 283 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the transaction, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total value of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares in the company, valued at approximately $42,657,300. The disclosure for this sale can be found here. Insiders have sold a total of 368,271 shares of company stock worth $147,115,953 over the last 90 days. Insiders own 3.99% of the company’s stock.

About NVIDIA

(Free Report)

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.