Merriman Wealth Management LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Merriman Wealth Management LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 807.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,692 shares of the computer hardware maker’s stock after buying an additional 73,578 shares during the quarter. NVIDIA accounts for approximately 0.4% of Merriman Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. Merriman Wealth Management LLC’s holdings in NVIDIA were worth $10,216,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after buying an additional 8,828,050 shares during the last quarter. Bank of New York Mellon Corp raised its position in NVIDIA by 854.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Dimensional Fund Advisors LP increased its position in NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after purchasing an additional 84,515,429 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of NVIDIA by 696.6% in the 2nd quarter. Baillie Gifford & Co. now owns 82,058,614 shares of the computer hardware maker’s stock worth $10,137,521,000 after purchasing an additional 71,757,065 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $141.54 on Friday. The company has a market cap of $3.48 trillion, a P/E ratio of 82.77, a PEG ratio of 1.52 and a beta of 1.67. The business has a 50 day moving average of $123.91 and a two-hundred day moving average of $113.68. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $144.42.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the business posted $0.25 EPS. NVIDIA’s revenue was up 122.4% on a year-over-year basis. As a group, analysts anticipate that NVIDIA Co. will post 2.65 EPS for the current year.

NVIDIA declared that its board has authorized a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

NVIDIA Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, September 12th. NVIDIA’s dividend payout ratio is presently 2.34%.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the transaction, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $99.81, for a total value of $11,977,200.00. Following the completion of the sale, the chief executive officer now owns 77,094,995 shares in the company, valued at $7,694,851,450.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,636,270 shares of company stock valued at $305,367,927 in the last quarter. Insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVDA. Mizuho lifted their price target on NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. UBS Group reiterated a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a research note on Tuesday, October 8th. Piper Sandler restated an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a report on Thursday, August 29th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a report on Monday, September 16th. Finally, Wedbush restated an “outperform” rating and set a $138.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $143.07.

NVIDIA Company 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.