Meredith Wealth Planning Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Meredith Wealth Planning raised its position in NVIDIA Co. (NASDAQ:NVDA) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,908 shares of the computer hardware maker’s stock after acquiring an additional 698 shares during the quarter. Meredith Wealth Planning’s holdings in NVIDIA were worth $793,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $34,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. lifted its position in shares of NVIDIA by 145.9% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after buying an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,109 shares of company stock worth $22,117,015. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $117.70 on Friday. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $126.92 and its 200 day simple moving average is $131.02. The firm has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Analyst Ratings Changes

A number of equities analysts have recently commented on NVDA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a report on Wednesday. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the company an “overweight” rating in a report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a report on Wednesday. Finally, DA Davidson cut their target price on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $171.51.

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.