M.E. Allison & CO. Inc. Has $705,000 Holdings in NVIDIA Corporation (NASDAQ:NVDA)

M.E. Allison & CO. Inc. grew its position in NVIDIA Corporation (NASDAQ:NVDA) by 3.9% during the first quarter, HoldingsChannel reports. The firm owned 6,503 shares of the computer hardware maker’s stock after buying an additional 245 shares during the quarter. M.E. Allison & CO. Inc.’s holdings in NVIDIA were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in NVDA. Tacita Capital Inc acquired a new position in NVIDIA during the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the 4th quarter worth about $38,000. Copia Wealth Management acquired a new position in shares of NVIDIA during the fourth quarter valued at about $50,000. Bruce G. Allen Investments LLC lifted its stake in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after buying an additional 327 shares during the period. Finally, LSV Asset Management acquired a new stake in NVIDIA during the fourth quarter worth about $54,000. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. KeyCorp set a $190.00 target price on NVIDIA in a research report on Wednesday, March 19th. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Oppenheimer reissued an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday, June 16th. Mizuho upped their price objective on NVIDIA from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, May 29th. Finally, Stifel Nicolaus set a $180.00 target price on NVIDIA in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.78.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 transaction, the director owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,044,919 shares of company stock valued at $584,414,209 over the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $157.25 on Thursday. The firm has a 50 day moving average of $134.36 and a 200-day moving average of $127.45. The stock has a market capitalization of $3.84 trillion, a PE ratio of 50.73, a PEG ratio of 1.36 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $158.71.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

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.