First Merchants Corp Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

First Merchants Corp cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 153,145 shares of the computer hardware maker's stock after selling 5,134 shares during the period. First Merchants Corp's holdings in NVIDIA were worth $20,566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Geode Capital Management LLC increased its stake in shares of NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker's stock worth $66,101,133,000 after purchasing an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker's stock valued at $21,908,236,000 after purchasing an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. increased its position in NVIDIA by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker's stock worth $17,738,630,000 after buying an additional 2,042,348 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of NVIDIA by 3.5% in the third quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker's stock worth $11,745,763,000 after buying an additional 3,283,380 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of NVIDIA by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 63,615,639 shares of the computer hardware maker's stock valued at $8,542,944,000 after buying an additional 186,761 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

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NVIDIA Stock Down 0.7 %

Shares of NVDA stock traded down $0.82 during trading on Friday, reaching $117.71. The company's stock had a trading volume of 193,457,509 shares, compared to its average volume of 316,869,825. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $153.13. The stock's 50-day moving average price is $127.28 and its 200 day moving average price is $131.03. The company has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 46.32, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA's dividend payout ratio is presently 1.36%.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,449 shares of company stock valued at $11,960,727 in the last ninety days. Insiders own 4.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVDA. Rosenblatt Securities restated a "buy" rating and set a $220.00 target price on shares of NVIDIA in a research note on Wednesday. Wedbush reissued an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, February 20th. Bank of America restated a "buy" rating and set a $200.00 target price on shares of NVIDIA in a research note on Wednesday. KeyCorp set a $190.00 target price on shares of NVIDIA in a report on Wednesday. Finally, Evercore ISI boosted their price objective on NVIDIA from $189.00 to $190.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $171.51.

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.