Melone Private Wealth LLC Takes $207,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Melone Private Wealth LLC purchased a new position in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, HoldingsChannel reports. The firm purchased 1,541 shares of the computer hardware maker’s stock, valued at approximately $207,000.

Several other institutional investors also recently bought and sold shares of the company. Ironwood Wealth Management LLC. lifted its position in NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares during the period. Financial Guidance Group Inc. boosted its holdings in shares of NVIDIA by 900.0% in the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after buying an additional 3,240 shares during the last quarter. Tortoise Investment Management LLC grew its position in NVIDIA by 858.9% during the second quarter. Tortoise Investment Management LLC now owns 6,770 shares of the computer hardware maker’s stock valued at $836,000 after buying an additional 6,064 shares during the period. Generate Investment Management Ltd increased its holdings in NVIDIA by 945.0% during the second quarter. Generate Investment Management Ltd now owns 585,609 shares of the computer hardware maker’s stock valued at $72,305,000 after buying an additional 529,569 shares during the last quarter. Finally, Allegheny Financial Group LTD purchased a new position in shares of NVIDIA during the 2nd quarter worth $835,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 3.7 %

NVDA opened at $120.07 on Friday. NVIDIA Co. has a 12 month low of $60.70 and a 12 month high of $153.13. The stock has a market capitalization of $2.94 trillion, a price-to-earnings ratio of 47.25, a PEG ratio of 2.23 and a beta of 1.64. 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 business has a fifty day moving average price of $137.02 and a 200 day moving average price of $129.37.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVDA. TD Cowen lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Wedbush upped their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. HSBC cut their target price on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays upped their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.23.

NVIDIA 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.