Meritage Portfolio Management Has $729,000 Stock Position in NVIDIA Co. (NASDAQ:NVDA)


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Meritage Portfolio Management raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,366 shares of the computer hardware maker’s stock after buying an additional 68 shares during the quarter. Meritage Portfolio Management’s holdings in NVIDIA were worth $729,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its stake in NVIDIA by 2.0% in the fourth quarter. BlackRock Inc. now owns 44,799,146 shares of the computer hardware maker’s stock valued at $23,394,117,000 after buying an additional 871,896 shares during the period. Itau Unibanco Holding S.A. lifted its stake in NVIDIA by 76,947.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 7,303,326 shares of the computer hardware maker’s stock valued at $307,000 after buying an additional 7,293,847 shares during the period. Norges Bank acquired a new position in NVIDIA in the fourth quarter valued at approximately $3,076,228,000. Edgewood Management LLC raised its position in shares of NVIDIA by 1.3% during the fourth quarter. Edgewood Management LLC now owns 5,077,121 shares of the computer hardware maker’s stock worth $2,651,273,000 after purchasing an additional 67,004 shares during the period. Finally, Morgan Stanley raised its position in shares of NVIDIA by 29.7% during the fourth quarter. Morgan Stanley now owns 4,695,110 shares of the computer hardware maker’s stock worth $2,451,789,000 after purchasing an additional 1,075,930 shares during the period. 65.70% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:NVDA opened at $593.47 on Tuesday. The stock has a 50-day simple moving average of $568.71 and a two-hundred day simple moving average of $545.05. NVIDIA Co. has a 52-week low of $280.88 and a 52-week high of $648.57. The firm has a market capitalization of $369.37 billion, a PE ratio of 97.13, a P/E/G ratio of 3.87 and a beta of 1.45. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.52 and a current ratio of 3.92.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Tuesday, February 23rd. The computer hardware maker reported $3.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.29. NVIDIA had a return on equity of 32.61% and a net margin of 25.89%. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the previous year, the business earned $1.89 earnings per share. Equities analysts forecast that NVIDIA Co. will post 7.65 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 10th were given a $0.16 dividend. The ex-dividend date was Tuesday, March 9th. This represents a $0.64 annualized dividend and a dividend yield of 0.11%. NVIDIA’s payout ratio is 13.94%.

A number of equities analysts have recently weighed in on NVDA shares. BMO Capital Markets upped their target price on NVIDIA from $650.00 to $680.00 and gave the stock an “outperform” rating in a research report on Monday, February 22nd. Raymond James raised NVIDIA from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $700.00 to $750.00 in a research report on Wednesday, April 21st. Needham & Company LLC upped their target price on NVIDIA from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, March 3rd. Truist upped their price target on NVIDIA from $672.00 to $700.00 in a report on Thursday, February 25th. Finally, Cowen upped their price target on NVIDIA from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, April 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $606.61.

In related news, Director Persis Drell sold 1,200 shares of the business’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $587.53, for a total value of $705,036.00. Following the sale, the director now directly owns 16,844 shares in the company, valued at $9,896,355.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark L. Perry sold 6,104 shares of the business’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $556.58, for a total value of $3,397,364.32. Following the completion of the sale, the director now owns 8,031 shares in the company, valued at $4,469,893.98. The disclosure for this sale can be found here. Insiders sold 21,804 shares of company stock worth $13,207,675 over the last 90 days. Company insiders own 4.47% of the company’s stock.

NVIDIA Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, Graphics and Compute & Networking. 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 design; GRID software for cloud-based visual and virtual computing; and automotive platforms for infotainment systems.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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