Meredith Wealth Planning Reduces Holdings in NVIDIA Co. (NASDAQ:NVDA)

Meredith Wealth Planning trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 21.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 540 shares of the computer hardware maker’s stock after selling 151 shares during the period. Meredith Wealth Planning’s holdings in NVIDIA were worth $267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. RFG Advisory LLC lifted its position in NVIDIA by 11.3% during the 4th quarter. RFG Advisory LLC now owns 15,684 shares of the computer hardware maker’s stock valued at $7,767,000 after acquiring an additional 1,588 shares during the period. White Wing Wealth Management purchased a new position in NVIDIA during the 4th quarter valued at about $695,000. Fortem Financial Group LLC lifted its position in NVIDIA by 1.0% during the 4th quarter. Fortem Financial Group LLC now owns 11,527 shares of the computer hardware maker’s stock valued at $5,709,000 after acquiring an additional 116 shares during the period. E&G Advisors LP lifted its position in NVIDIA by 13.9% during the 4th quarter. E&G Advisors LP now owns 5,228 shares of the computer hardware maker’s stock valued at $2,589,000 after acquiring an additional 640 shares during the period. Finally, Eastern Bank lifted its position in NVIDIA by 41.5% during the 4th quarter. Eastern Bank now owns 74,846 shares of the computer hardware maker’s stock valued at $37,065,000 after acquiring an additional 21,936 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock valued at $52,689,898 in the last 90 days. Company insiders own 3.99% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $1,100.00 price target on shares of NVIDIA in a research report on Tuesday, February 20th. Wells Fargo & Company lifted their price target on shares of NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. UBS Group lifted their price target on shares of NVIDIA from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Tigress Financial raised their price objective on shares of NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $940.30.

NVIDIA Trading Up 1.6 %

Shares of NVDA opened at $874.15 on Wednesday. NVIDIA Co. has a twelve month low of $262.25 and a twelve month high of $974.00. The company has a market cap of $2.19 trillion, a P/E ratio of 73.21, a P/E/G ratio of 1.27 and a beta of 1.73. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $838.10 and its 200-day simple moving average is $616.90.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm’s revenue was up 265.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. As a group, analysts expect that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.

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.