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

Meridian Investment Counsel Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 0.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 17,615 shares of the computer hardware maker’s stock after purchasing 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.

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in NVIDIA during the second quarter worth about $27,000. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA during the 2nd quarter worth approximately $31,000. West Financial Advisors LLC purchased a new position in NVIDIA in the third quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. grew its holdings in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVDA. Piper Sandler increased their price target on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Barclays lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Citigroup upped their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Truist Financial lifted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Susquehanna raised their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Stock Performance

NVIDIA stock opened at $134.29 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.29 trillion, a P/E ratio of 52.85, a P/E/G ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The firm has a 50-day moving average of $139.55 and a 200-day moving average of $128.09.

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

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is currently 1.57%.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’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 transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,226,886 shares of company stock worth $161,499,400. 4.23% of the stock is currently 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.