If you want to actually remove the text, use:
$('div.text').text(function (i, t) {
return t.replace(' Hide Me', '');
})
To hide it, use:
$('div.text').html(function (i, t) {
return t.replace('Hide Me', '<span class="hidden">Hide Me</span>');
})
with the CSS .hidden {
display:none;
}