Meridian Financial Partners LLC Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Oct 15th, 2023

Meridian Financial Partners LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 59.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,606 shares of the computer hardware maker’s stock after selling 2,372 shares during the quarter. Meridian Financial Partners LLC’s holdings in NVIDIA were worth $731,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NVDA. United Bank increased its position in NVIDIA by 28.9% during 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. increased its position in NVIDIA by 6.8% during 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 increased its position in NVIDIA by 42.1% during the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after buying an additional 583 shares in the last quarter. Navis Wealth Advisors LLC increased its position in NVIDIA by 205.3% during the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after buying an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in NVIDIA during the 1st quarter valued at about $929,000. 64.79% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $454.61 on Friday. NVIDIA Co. has a one year low of $112.04 and a one year high of $502.66. The company has a market cap of $1.12 trillion, a price-to-earnings ratio of 109.81, a PEG ratio of 3.52 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79. The business’s 50 day moving average price is $449.79 and its 200 day moving average price is $392.72.

NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was up 101.5% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 9.54 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were given a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 3.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVDA. Citigroup increased their price objective on NVIDIA from $520.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, August 24th. TD Cowen increased their price objective on NVIDIA from $600.00 to $700.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial increased their price objective on NVIDIA from $545.00 to $668.00 and gave the company a “buy” rating in a report on Thursday, August 24th. BMO Capital Markets increased their price objective on NVIDIA from $450.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, August 21st. Finally, Susquehanna increased their price objective on NVIDIA from $575.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $561.45.

Check Out Our Latest Stock Report on NVIDIA

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total value of $13,478,648.88. Following the sale, the chief executive officer now owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total value of $13,478,648.88. Following the sale, the chief executive officer now owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total value of $10,063,720.00. Following the completion of the sale, the director now owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock worth $67,606,089 over the last quarter. 3.99% of the stock is currently owned by company insiders.

NVIDIA Company Profile

(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.