Meyer Handelman Co. Buys 3,687 Shares of NVIDIA Co. (NASDAQ:NVDA)

Meyer Handelman Co. raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 136,286 shares of the computer hardware maker’s stock after purchasing an additional 3,687 shares during the period. Meyer Handelman Co.’s holdings in NVIDIA were worth $14,771,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. DiNuzzo Private Wealth Inc. lifted its stake in shares of NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after acquiring an additional 71 shares during the last quarter. Baker Boyer National Bank lifted its stake in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after acquiring an additional 76 shares during the last quarter. SC&H Financial Advisors Inc. lifted its stake in shares of NVIDIA by 1.6% during the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock worth $681,000 after acquiring an additional 80 shares during the last quarter. DecisionPoint Financial LLC lifted its stake in shares of NVIDIA by 2.9% during the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock worth $386,000 after acquiring an additional 80 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC lifted its stake in shares of NVIDIA by 0.7% during the 4th quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker’s stock worth $1,544,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Truist Financial raised their price objective on NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, UBS Group restated a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $171.66.

NVIDIA Stock Up 0.9%

Shares of NVDA stock opened at $143.96 on Wednesday. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $153.13. The stock’s fifty day moving average price is $119.94 and its 200 day moving average price is $126.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $3.51 trillion, a price-to-earnings ratio of 56.65, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the firm posted $0.61 EPS. The business’s revenue was up 69.2% compared to the same quarter last year. On average, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

Insiders Place Their Bets

In other news, Director Aarti S. Shah sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. The trade was a 27.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director now directly owns 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,614,169 shares of company stock valued at $366,510,238. 4.17% of the stock is owned by company insiders.

About NVIDIA

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.