Meadowbrook Advisors Group LLC Makes New Investment in NVIDIA Corporation $NVDA

Meadowbrook Advisors Group LLC acquired a new stake in shares of NVIDIA Corporation (NASDAQ:NVDAFree Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,182 shares of the computer hardware maker’s stock, valued at approximately $3,204,000. NVIDIA comprises approximately 1.8% of Meadowbrook Advisors Group LLC’s holdings, making the stock its 8th biggest holding.

Several other hedge funds have also recently made changes to their positions in the company. DUTCH ASSET Corp acquired a new stake in NVIDIA during the 4th quarter worth about $5,284,000. Larry Mathis Financial Planning LLC purchased a new stake in NVIDIA during the 4th quarter valued at about $1,659,000. Green Ridge Wealth Planning LLC acquired a new position in shares of NVIDIA in the fourth quarter valued at about $4,370,000. Downshift Financial LLC purchased a new position in shares of NVIDIA in the fourth quarter worth about $2,043,000. Finally, Advisortrust Partners LLC purchased a new position in shares of NVIDIA in the fourth quarter worth about $2,084,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 500,000 shares of NVIDIA stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $219.83, for a total value of $109,915,000.00. Following the completion of the transaction, the director owned 6,399,771 shares in the company, valued at $1,406,861,658.93. The trade was a 7.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 625 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $214.00, for a total value of $133,750.00. Following the completion of the transaction, the director directly owned 14,163 shares of the company’s stock, valued at $3,030,882. The trade was a 4.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,016,125 shares of company stock worth $224,582,565. Company insiders own 3.94% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent research reports. President Capital upped their target price on NVIDIA from $280.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. The Goldman Sachs Group restated a “buy” rating and set a $285.00 price objective (up from $250.00) on shares of NVIDIA in a research note on Wednesday, May 20th. Rothschild & Co Redburn upped their price objective on shares of NVIDIA from $280.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Wolfe Research reiterated an “outperform” rating and issued a $275.00 price objective on shares of NVIDIA in a research note on Thursday, May 21st. Finally, Tigress Financial restated a “strong-buy” rating and set a $425.00 target price (up from $360.00) on shares of NVIDIA in a research report on Wednesday, May 27th. Three investment analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $305.67.

View Our Latest Stock Analysis on NVIDIA

NVIDIA Trading Down 1.0%

NVIDIA stock opened at $208.65 on Tuesday. The firm has a market cap of $5.05 trillion, a PE ratio of 31.95, a P/E/G ratio of 0.47 and a beta of 2.22. NVIDIA Corporation has a 12 month low of $142.03 and a 12 month high of $236.54. The stock’s 50 day simple moving average is $210.40 and its two-hundred day simple moving average is $192.66. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.04.

NVIDIA (NASDAQ:NVDAGet Free Report) last posted its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.11. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The firm had revenue of $81.61 billion during the quarter, compared to analysts’ expectations of $78.42 billion. During the same period in the previous year, the business posted $0.81 EPS. The business’s revenue was up 85.2% compared to the same quarter last year. Analysts anticipate that NVIDIA Corporation will post 8.65 earnings per share for the current year.

NVIDIA declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 20th that allows the company to buyback $80.00 billion in shares. This buyback authorization allows the computer hardware maker to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

NVIDIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Thursday, June 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from NVIDIA’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, June 4th. NVIDIA’s payout ratio is currently 15.31%.

NVIDIA News Summary

Here are the key news stories impacting NVIDIA this week:

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

See Also

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDAFree Report).

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.