Meadowbrook Advisors Group LLC Invests $3.20 Million in NVIDIA Corporation $NVDA

Meadowbrook Advisors Group LLC bought a new stake in shares of NVIDIA Corporation (NASDAQ:NVDAFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 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 portfolio, making the stock its 8th biggest holding.

Several other large investors also recently bought and sold shares of the business. Diversified Enterprises LLC increased its position in NVIDIA by 44.2% during the fourth quarter. Diversified Enterprises LLC now owns 127,604 shares of the computer hardware maker’s stock valued at $23,798,000 after acquiring an additional 39,129 shares during the last quarter. ASR Vermogensbeheer N.V. grew its holdings in NVIDIA by 1.8% during the 4th quarter. ASR Vermogensbeheer N.V. now owns 3,169,377 shares of the computer hardware maker’s stock valued at $591,086,000 after purchasing an additional 54,877 shares during the last quarter. PMG Family Office LLC purchased a new stake in NVIDIA in the 3rd quarter worth about $2,150,000. Storen Legacy Partners LLC bought a new stake in NVIDIA in the fourth quarter worth about $1,350,000. Finally, Weaver Capital Management LLC lifted its stake in NVIDIA by 5.5% in the fourth quarter. Weaver Capital Management LLC now owns 85,216 shares of the computer hardware maker’s stock worth $15,893,000 after purchasing an additional 4,439 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 625 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $214.00, for a total transaction of $133,750.00. Following the completion of the sale, the director owned 14,163 shares in the company, valued at approximately $3,030,882. This represents a 4.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 500,000 shares of the firm’s stock in a transaction on 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 sale, the director directly owned 6,399,771 shares of the company’s stock, valued at $1,406,861,658.93. The trade was a 7.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,016,125 shares of company stock valued at $224,582,565 over the last 90 days. Insiders own 3.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Bank of America reaffirmed a “buy” rating and issued a $350.00 price objective (up from $320.00) on shares of NVIDIA in a research report on Thursday, May 21st. Argus upped their target price on shares of NVIDIA from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of NVIDIA in a research report on Tuesday, June 2nd. Mizuho set a $300.00 price target on shares of NVIDIA in a research note on Thursday, May 21st. Finally, Sanford C. Bernstein reiterated a “buy” rating on shares of NVIDIA in a report on Monday, June 8th. Three investment analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $305.67.

Read Our Latest Research Report on NVIDIA

NVIDIA Stock Down 1.0%

Shares of NASDAQ NVDA opened at $208.65 on Tuesday. NVIDIA Corporation has a 12-month low of $142.03 and a 12-month high of $236.54. The stock’s fifty day simple moving average is $210.40 and its two-hundred day simple moving average is $192.66. The stock has a market capitalization of $5.05 trillion, a PE ratio of 31.95, a price-to-earnings-growth ratio of 0.47 and a beta of 2.22. 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. The company had revenue of $81.61 billion for the quarter, compared to analyst estimates of $78.42 billion. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The firm’s quarterly revenue was up 85.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. As a group, analysts expect that NVIDIA Corporation will post 8.65 EPS for the current fiscal year.

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

NVIDIA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Thursday, June 4th will be paid a dividend of $0.25 per share. This is a boost from NVIDIA’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. NVIDIA’s dividend payout ratio (DPR) is presently 15.31%.

Trending Headlines about NVIDIA

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About NVIDIA

(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

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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