Meeder Asset Management Inc. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 204.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,306 shares of the computer hardware maker’s stock after acquiring an additional 7,591 shares during the quarter. Meeder Asset Management Inc.’s holdings in NVIDIA were worth $6,037,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. OLD Mission Capital LLC purchased a new stake in NVIDIA in the 3rd quarter valued at approximately $293,000. Brinker Capital Investments LLC acquired a new stake in shares of NVIDIA during the 3rd quarter worth $3,984,000. Rockland Trust Co. raised its stake in NVIDIA by 1.4% during the fourth quarter. Rockland Trust Co. now owns 1,433 shares of the computer hardware maker’s stock worth $748,000 after acquiring an additional 20 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in NVIDIA in the fourth quarter worth $783,000. Finally, M&R Capital Management Inc. lifted its holdings in NVIDIA by 155.2% in the fourth quarter. M&R Capital Management Inc. now owns 370 shares of the computer hardware maker’s stock valued at $193,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 65.70% of the company’s stock.
In other news, Director Persis Drell sold 1,200 shares of the stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $587.53, for a total transaction of $705,036.00. Following the sale, the director now directly owns 16,844 shares of the company’s stock, valued at $9,896,355.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert K. Burgess sold 14,500 shares of the stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $627.95, for a total transaction of $9,105,275.00. Insiders have sold 21,804 shares of company stock valued at $13,207,675 in the last ninety days. 4.47% of the stock is owned by company insiders.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Tuesday, February 23rd. The computer hardware maker reported $3.10 EPS for the quarter, beating the consensus estimate of $2.81 by $0.29. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.83 billion. NVIDIA had a net margin of 25.89% and a return on equity of 32.61%. During the same period in the previous year, the company posted $1.89 EPS. Research analysts predict that NVIDIA Co. will post 7.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 10th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, March 9th. NVIDIA’s dividend payout ratio is currently 13.94%.
A number of research analysts have recently commented on the stock. Oppenheimer lifted their price objective on shares of NVIDIA from $600.00 to $700.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. Cascend Securities raised their target price on shares of NVIDIA from $620.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, March 3rd. Mizuho lifted their price target on shares of NVIDIA from $650.00 to $675.00 and gave the company a “buy” rating in a report on Monday, April 19th. Needham & Company LLC raised their price objective on NVIDIA from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, March 3rd. Finally, Piper Sandler lifted their price target on NVIDIA from $575.00 to $625.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $606.61.
NVIDIA Company Profile
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, Graphics and Compute & Networking. 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 design; GRID software for cloud-based visual and virtual computing; and automotive platforms for infotainment systems.
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