Hennion & Walsh Asset Management Inc. Has $16.34 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Hennion & Walsh Asset Management Inc. trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 14.3% during the third quarter, Holdings Channel reports. The fund owned 134,567 shares of the computer hardware maker’s stock after selling 22,369 shares during the quarter. NVIDIA accounts for 0.8% of Hennion & Walsh Asset Management Inc.’s holdings, making the stock its 14th largest position. Hennion & Walsh Asset Management Inc.’s holdings in NVIDIA were worth $16,341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of NVIDIA by 52.2% during 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 during the period. Shell Asset Management Co. raised its stake in NVIDIA by 1.1% during the first quarter. Shell Asset Management Co. now owns 123,527 shares of the computer hardware maker’s stock worth $111,614,000 after acquiring an additional 1,327 shares in the last quarter. Fayez Sarofim & Co grew its stake in NVIDIA by 16.4% during the first quarter. Fayez Sarofim & Co now owns 145,619 shares of the computer hardware maker’s stock worth $131,576,000 after buying an additional 20,467 shares during the last quarter. Vident Advisory LLC raised its position in NVIDIA by 30.4% in the 1st quarter. Vident Advisory LLC now owns 67,153 shares of the computer hardware maker’s stock valued at $60,678,000 after purchasing an additional 15,675 shares during the last quarter. Finally, Delap Wealth Advisory LLC lifted its position in NVIDIA by 383.6% during the 1st quarter. Delap Wealth Advisory LLC now owns 5,668 shares of the computer hardware maker’s stock worth $5,121,000 after buying an additional 4,496 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was 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 directly owns 76,135,836 shares in the company, valued at $8,180,034,219.84. This trade represents a 0.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,916,986 shares of company stock worth $227,311,199. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $138.63 on Tuesday. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 54.58, a PEG ratio of 2.50 and a beta of 1.66. NVIDIA Co. has a one year low of $45.01 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a 50 day simple moving average of $136.05 and a 200 day simple moving average of $124.11.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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 firm 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%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. Research analysts predict that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research reports. Benchmark lifted their target price on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Bank of America reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Craig Hallum increased their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA 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.