Melone Private Wealth LLC Invests $207,000 in NVIDIA Co. (NASDAQ:NVDA)

Melone Private Wealth LLC acquired a new position in NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,541 shares of the computer hardware maker’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Henrickson Nauta Wealth Advisors Inc. boosted its stake in NVIDIA by 34.5% during the fourth quarter. Henrickson Nauta Wealth Advisors Inc. now owns 4,036 shares of the computer hardware maker’s stock worth $542,000 after acquiring an additional 1,035 shares in the last quarter. Capstone Wealth Management Group LLC raised its stake in NVIDIA by 38.6% during the 4th quarter. Capstone Wealth Management Group LLC now owns 5,580 shares of the computer hardware maker’s stock worth $749,000 after buying an additional 1,555 shares during the period. Fiduciary Financial Group LLC grew its position in NVIDIA by 2.9% in the 4th quarter. Fiduciary Financial Group LLC now owns 68,361 shares of the computer hardware maker’s stock valued at $9,291,000 after purchasing an additional 1,924 shares during the period. Mayfair Advisory Group LLC grew its position in NVIDIA by 14.1% in the 4th quarter. Mayfair Advisory Group LLC now owns 20,435 shares of the computer hardware maker’s stock valued at $2,744,000 after purchasing an additional 2,520 shares during the period. Finally, Affinity Capital Advisors LLC lifted its stake in shares of NVIDIA by 8.8% in the fourth quarter. Affinity Capital Advisors LLC now owns 7,290 shares of the computer hardware maker’s stock valued at $1,022,000 after buying an additional 588 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $120.07 on Friday. The company has a market capitalization of $2.94 trillion, a P/E ratio of 47.25, a P/E/G ratio of 2.23 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52-week low of $60.70 and a 52-week high of $153.13. The company has a fifty day moving average of $137.02 and a 200-day moving average of $129.37.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, December 13th. The shares were 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 owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 in the last ninety days. 4.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

NVDA has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of NVIDIA from $166.00 to $152.00 and set an “overweight” rating on the stock in a report on Tuesday. Wedbush increased their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Raymond James lifted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Phillip Securities restated an “accumulate” rating and issued a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, Stifel Nicolaus increased their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.23.

NVIDIA 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.