McElhenny Sheffield Capital Management LLC Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

McElhenny Sheffield Capital Management LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,814 shares of the computer hardware maker’s stock after purchasing an additional 183 shares during the quarter. McElhenny Sheffield Capital Management LLC’s holdings in NVIDIA were worth $342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its position in NVIDIA by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock worth $34,597,000 after purchasing an additional 13,135 shares in the last quarter. D Orazio & Associates Inc. increased its holdings in NVIDIA by 9.4% in the first quarter. D Orazio & Associates Inc. now owns 3,468 shares of the computer hardware maker’s stock valued at $3,134,000 after buying an additional 298 shares in the last quarter. TBH Global Asset Management LLC raised its holdings in NVIDIA by 23.0% in the 1st quarter. TBH Global Asset Management LLC now owns 1,114 shares of the computer hardware maker’s stock worth $1,007,000 after purchasing an additional 208 shares during the period. Planning Directions Inc. lifted its position in shares of NVIDIA by 3.0% during the 1st quarter. Planning Directions Inc. now owns 935 shares of the computer hardware maker’s stock valued at $844,000 after buying an additional 27 shares in the last quarter. Finally, Ledyard National Bank lifted its holdings in NVIDIA by 14.5% during the first quarter. Ledyard National Bank now owns 2,323 shares of the computer hardware maker’s stock valued at $2,099,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.03, for a total value of $14,283,600.00. Following the sale, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $136.92 on Wednesday. The firm’s fifty day simple moving average is $134.82 and its 200 day simple moving average is $123.17. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The firm has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 53.88, a PEG ratio of 2.60 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company 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%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. As a group, equities research analysts expect that NVIDIA Co. will post 2.73 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NVDA shares. Needham & Company LLC increased their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Monday, November 18th. Wells Fargo & Company raised their price objective on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Craig Hallum boosted their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.