Meyer Handelman Co. Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Meyer Handelman Co. lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 132,599 shares of the computer hardware maker’s stock after selling 1,961 shares during the quarter. Meyer Handelman Co.’s holdings in NVIDIA were worth $17,807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Christopher J. Hasenberg Inc bought a new position in NVIDIA in the 3rd quarter worth approximately $27,000. Quest Partners LLC purchased a new position in shares of NVIDIA in the second quarter worth $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA during the second quarter worth $31,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the fourth quarter valued at $34,000. Finally, West Financial Advisors LLC bought a new stake in NVIDIA in the 3rd quarter valued at $36,000. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on NVDA shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Stifel Nicolaus raised their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Evercore ISI upped their price objective on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Wedbush raised their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Oppenheimer reiterated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $166.23.

NVIDIA Trading Down 3.7 %

Shares of NASDAQ NVDA opened at $120.07 on Friday. The business has a fifty day moving average price of $136.58 and a 200 day moving average price of $129.31. NVIDIA Co. has a 1-year low of $60.70 and a 1-year high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $2.94 trillion, a P/E ratio of 47.25, a price-to-earnings-growth ratio of 2.23 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS 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 business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 93.6% on a year-over-year basis. Equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

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.