Meridian Investment Counsel Inc. Buys 160 Shares of NVIDIA Co. (NASDAQ:NVDA)

Meridian Investment Counsel Inc. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 17,615 shares of the computer hardware maker’s stock after acquiring an additional 160 shares during the period. Meridian Investment Counsel Inc.’s holdings in NVIDIA were worth $2,139,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA in the 3rd quarter worth $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA in the second quarter worth $31,000. West Financial Advisors LLC bought a new position in shares of NVIDIA during the third quarter valued at $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 2.3 %

NVDA stock opened at $134.29 on Thursday. The company has a market capitalization of $3.29 trillion, a PE ratio of 52.85, a P/E/G ratio of 2.43 and a beta of 1.63. 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 Co. has a 12 month low of $47.32 and a 12 month high of $152.89. The firm’s 50-day moving average is $139.55 and its 200 day moving average is $128.09.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was up 93.6% on a year-over-year basis. On average, research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Mizuho increased their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Evercore ISI raised their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Truist Financial upped their price target on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Susquehanna lifted their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,226,886 shares of company stock worth $161,499,400 over the last three months. 4.23% of the stock is owned by corporate insiders.

About NVIDIA

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.