Meeder Advisory Services Inc. Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Meeder Advisory Services Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 479,954 shares of the computer hardware maker’s stock after purchasing an additional 13,926 shares during the quarter. NVIDIA makes up 3.8% of Meeder Advisory Services Inc.’s portfolio, making the stock its 6th biggest position. Meeder Advisory Services Inc.’s holdings in NVIDIA were worth $58,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Legal & General Group Plc boosted its stake in NVIDIA by 884.0% during the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after buying an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP raised its position in NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after acquiring an additional 73,589,208 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred 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 transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,226,886 shares of company stock valued at $161,499,400 in the last ninety days. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Up 4.5 %

NVDA stock opened at $144.47 on Friday. NVIDIA Co. has a 1-year low of $47.51 and a 1-year high of $152.89. The business’s 50 day simple moving average is $139.57 and its 200 day simple moving average is $128.25. 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 capitalization of $3.54 trillion, a PE ratio of 56.86, a PEG ratio of 2.43 and a beta of 1.63.

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

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NVDA shares. Evercore ISI increased their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Piper Sandler boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Morgan Stanley increased their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.