Meiji Yasuda Asset Management Co Ltd. Sells 9,988 Shares of NVIDIA Co. (NASDAQ:NVDA)

Meiji Yasuda Asset Management Co Ltd. trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 918,654 shares of the computer hardware maker's stock after selling 9,988 shares during the period. NVIDIA comprises about 4.7% of Meiji Yasuda Asset Management Co Ltd.'s investment portfolio, making the stock its 2nd largest holding. Meiji Yasuda Asset Management Co Ltd.'s holdings in NVIDIA were worth $123,366,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Baxter Bros Inc. lifted its position in shares of NVIDIA by 13.1% in the fourth quarter. Baxter Bros Inc. now owns 6,239 shares of the computer hardware maker's stock worth $838,000 after purchasing an additional 723 shares in the last quarter. Bay Capital Advisors LLC acquired a new position in NVIDIA during the fourth quarter worth approximately $1,620,000. Potentia Wealth acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $6,596,000. PKS Advisory Services LLC bought a new stake in NVIDIA in the 4th quarter valued at $3,394,000. Finally, Prestige Wealth Management Group LLC boosted its position in NVIDIA by 14.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 56,365 shares of the computer hardware maker's stock worth $7,569,000 after purchasing an additional 6,965 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity

In other news, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company's stock, valued at $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 over the last three months. Insiders own 4.23% of the company's stock.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research reports. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research report on Thursday, April 3rd. Benchmark reaffirmed a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Susquehanna reaffirmed a "positive" rating and set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Wedbush reissued an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Finally, Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Trading Up 4.3 %

Shares of NVIDIA stock traded up $4.72 during trading on Thursday, hitting $113.64. The stock had a trading volume of 161,863,689 shares, compared to its average volume of 302,322,548. NVIDIA Co. has a 12 month low of $81.25 and a 12 month high of $195.95. The stock has a market cap of $2.77 trillion, a PE ratio of 44.82, a PEG ratio of 1.76 and a beta of 1.96. 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 firm's fifty day simple moving average is $111.47 and its 200-day simple moving average is $128.49.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. As a group, sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA's dividend payout ratio (DPR) is currently 1.36%.

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.