Hennion & Walsh Asset Management Inc. Decreases Stake in NVIDIA Co. (NASDAQ:NVDA)

Hennion & Walsh Asset Management Inc. lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,567 shares of the computer hardware maker’s stock after selling 22,369 shares during the quarter. NVIDIA comprises about 0.8% of Hennion & Walsh Asset Management Inc.’s holdings, making the stock its 14th largest holding. Hennion & Walsh Asset Management Inc.’s holdings in NVIDIA were worth $16,341,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the 2nd quarter worth approximately $25,000. DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 1,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares in the last quarter. CGC Financial Services LLC purchased a new position in NVIDIA in the second quarter valued at $26,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the 1st quarter worth about $27,000. Finally, Quest Partners LLC acquired a new position in shares of NVIDIA in the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 0.3 %

NASDAQ:NVDA opened at $138.63 on Tuesday. The company has a market cap of $3.40 trillion, a PE ratio of 54.58, a P/E/G ratio of 2.50 and a beta of 1.66. The business’s 50 day moving average is $136.05 and its two-hundred day moving average is $124.11. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $45.01 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, analysts predict that NVIDIA Co. will post 2.76 EPS for the current year.

NVIDIA Announces Dividend

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

NVIDIA announced that its board has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVDA. Evercore ISI boosted their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. TD Cowen upped their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Benchmark raised their price target on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Westpark Capital raised their price target on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Truist Financial lifted their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.15.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,916,986 shares of company stock worth $227,311,199. 4.23% of the stock is owned by corporate insiders.

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.