Walker Asset Management LLC Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Walker Asset Management LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,356 shares of the computer hardware maker’s stock after selling 957 shares during the quarter. NVIDIA makes up about 2.4% of Walker Asset Management LLC’s portfolio, making the stock its 6th biggest position. Walker Asset Management LLC’s holdings in NVIDIA were worth $3,929,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of NVDA. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of NVIDIA during the 1st quarter valued at $27,000. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares during the last quarter. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA during the 3rd quarter valued at $27,000. Finally, CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at $26,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 1.2 %

NVIDIA stock opened at $140.26 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $45.01 and a 12 month high of $152.89. The stock has a market capitalization of $3.43 trillion, a PE ratio of 55.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.63. The business has a 50 day simple moving average of $136.89 and a 200-day simple moving average of $124.75.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, analysts anticipate that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.01 per share. 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 payout ratio is 1.57%.

NVIDIA announced that its Board of Directors has initiated a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America reiterated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Morgan Stanley increased their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Barclays raised their target price on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Citigroup raised their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Four equities 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Buying and Selling

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at $577,611,810.26. This represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $107.44, for a total value of $12,892,800.00. Following the completion of the sale, the chief executive officer now owns 76,135,836 shares of the company’s stock, valued at approximately $8,180,034,219.84. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders 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.