Meyer Handelman Co. Decreases Position in NVIDIA Co. (NASDAQ:NVDA)

Meyer Handelman Co. reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,285 shares of the computer hardware maker’s stock after selling 75 shares during the quarter. Meyer Handelman Co.’s holdings in NVIDIA were worth $6,579,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Matthews International Capital Management LLC grew its position in NVIDIA by 125.8% in the fourth quarter. Matthews International Capital Management LLC now owns 44,518 shares of the computer hardware maker’s stock valued at $22,046,000 after acquiring an additional 24,805 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in NVIDIA by 54.0% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 3,939 shares of the computer hardware maker’s stock valued at $1,951,000 after purchasing an additional 1,382 shares in the last quarter. Armstrong Advisory Group Inc. increased its stake in NVIDIA by 56.9% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,497 shares of the computer hardware maker’s stock worth $741,000 after buying an additional 543 shares during the period. B & T Capital Management DBA Alpha Capital Management lifted its holdings in NVIDIA by 1.0% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 4,633 shares of the computer hardware maker’s stock worth $2,294,000 after buying an additional 47 shares in the last quarter. Finally, Sendero Wealth Management LLC boosted its position in NVIDIA by 2.6% in the 4th quarter. Sendero Wealth Management LLC now owns 17,068 shares of the computer hardware maker’s stock valued at $8,452,000 after buying an additional 427 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Debora Shoquist sold 5,676 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $500.00, for a total value of $2,838,000.00. Following the completion of the sale, the executive vice president now directly owns 48,360 shares in the company, valued at approximately $24,180,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Debora Shoquist sold 5,676 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $500.00, for a total value of $2,838,000.00. Following the sale, the executive vice president now directly owns 48,360 shares of the company’s stock, valued at $24,180,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 36,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $546.95, for a total value of $19,690,200.00. Following the transaction, the director now directly owns 1,134,583 shares of the company’s stock, valued at approximately $620,560,171.85. The disclosure for this sale can be found here. Insiders sold 105,352 shares of company stock valued at $64,853,077 over the last quarter. Insiders own 3.99% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $902.50 on Thursday. NVIDIA Co. has a 1 year low of $258.50 and a 1 year high of $974.00. The business’s fifty day moving average is $758.96 and its two-hundred day moving average is $569.38. The stock has a market capitalization of $2.26 trillion, a P/E ratio of 75.59, a P/E/G ratio of 1.33 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue for the quarter was up 265.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. On average, research analysts forecast that NVIDIA Co. will post 22.45 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio is 1.34%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. HSBC lifted their target price on NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $910.00 target price on shares of NVIDIA in a research report on Wednesday, March 20th. The Goldman Sachs Group raised their price target on shares of NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Tigress Financial upped their price target on shares of NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Truist Financial boosted their target price on shares of NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $908.68.

NVIDIA 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.