NVIDIA Co. (NASDAQ:NVDA) Holdings Increased by Meyer Handelman Co.

Meyer Handelman Co. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,560 shares of the computer hardware maker’s stock after buying an additional 2,740 shares during the quarter. Meyer Handelman Co.’s holdings in NVIDIA were worth $16,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. China Universal Asset Management Co. Ltd. raised its holdings in shares of NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares in the last quarter. Blackhawk Capital Partners LLC. raised its holdings in shares of NVIDIA by 155.0% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 1,780 shares of the computer hardware maker’s stock worth $1,608,000 after purchasing an additional 1,082 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of NVIDIA by 43.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 5,850 shares of the computer hardware maker’s stock worth $5,286,000 after purchasing an additional 1,761 shares in the last quarter. Smith Shellnut Wilson LLC ADV raised its holdings in shares of NVIDIA by 5.3% in the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 1,198 shares of the computer hardware maker’s stock worth $1,082,000 after purchasing an additional 60 shares in the last quarter. Finally, 5th Street Advisors LLC bought a new stake in shares of NVIDIA in the 1st quarter worth approximately $233,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $146.27 on Thursday. NVIDIA Co. has a 1 year low of $45.01 and a 1 year high of $149.77. The firm’s fifty day simple moving average is $128.59 and its 200 day simple moving average is $119.33. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.59 trillion, a PE ratio of 68.61, a PEG ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period last year, the business posted $0.25 EPS. NVIDIA’s revenue was up 122.4% compared to the same quarter last year. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.66 EPS for the current year.

NVIDIA Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.88%.

NVIDIA announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

NVDA has been the topic of a number of research reports. Truist Financial boosted their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a report on Tuesday, October 8th. Westpark Capital boosted their target price on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. UBS Group boosted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday. Finally, Citigroup boosted their price target on shares of NVIDIA from $150.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $147.48.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Company 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.