Wallington Asset Management LLC Trims Holdings in NVIDIA Co. (NASDAQ:NVDA)

Wallington Asset Management LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 25,652 shares of the computer hardware maker’s stock after selling 187 shares during the quarter. Wallington Asset Management LLC’s holdings in NVIDIA were worth $3,445,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. GoalFusion Wealth Management LLC grew its stake in NVIDIA by 4.8% in the 4th quarter. GoalFusion Wealth Management LLC now owns 5,458 shares of the computer hardware maker’s stock worth $733,000 after acquiring an additional 250 shares during the period. CGN Advisors LLC grew its position in shares of NVIDIA by 6.1% in the fourth quarter. CGN Advisors LLC now owns 75,420 shares of the computer hardware maker’s stock valued at $10,128,000 after purchasing an additional 4,340 shares during the period. BTS Asset Management Inc. acquired a new position in NVIDIA in the fourth quarter valued at $254,000. Sanibel Captiva Trust Company Inc. lifted its position in NVIDIA by 3.6% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 262,062 shares of the computer hardware maker’s stock worth $35,192,000 after buying an additional 9,151 shares during the period. Finally, Howard Financial Services LTD. boosted its stake in NVIDIA by 12.4% in the 4th quarter. Howard Financial Services LTD. now owns 77,365 shares of the computer hardware maker’s stock worth $10,389,000 after buying an additional 8,540 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NVDA. Wedbush increased their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Phillip Securities restated an “accumulate” rating and issued a $160.00 price objective (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Piper Sandler boosted their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Truist Financial raised their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.23.

NVIDIA Price Performance

NVDA opened at $128.68 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $135.62 and its 200 day moving average price is $129.35. NVIDIA Co. has a fifty-two week low of $66.25 and a fifty-two week high of $153.13. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 50.64, a price-to-earnings-growth ratio of 2.16 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued 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 was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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.