Wallington Asset Management LLC Reduces Position in NVIDIA Corporation $NVDA

Key Points

• Wallington Asset Management LLC reduced its position in NVIDIA Corporation by 12.3% during the second quarter, owning 22,502 shares worth $3,555,000 after selling 3,150 shares.
• Analysts showed positive sentiment towards NVIDIA, with multiple firms raising price targets and reaffirming buy ratings, including Barclays with a new target of $240.00 and Cantor Fitzgerald setting a target of $300.00.
• NVIDIA's recent quarterly earnings report showed a profit of $1.05 earnings per share and revenue of $46.74 billion, exceeding analyst expectations and demonstrating over a 55.6% year-over-year revenue growth.

Wallington Asset Management LLC lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,502 shares of the computer hardware maker's stock after selling 3,150 shares during the period. Wallington Asset Management LLC's holdings in NVIDIA were worth $3,555,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kathleen S. Wright Associates Inc. raised its stake in shares of NVIDIA by 169.3% during the first quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after acquiring an additional 254 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of NVIDIA during the first quarter valued at approximately $51,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA during the second quarter valued at approximately $55,000. Campbell Capital Management Inc. raised its stake in shares of NVIDIA by 5,900.0% during the first quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker's stock valued at $65,000 after acquiring an additional 590 shares in the last quarter. Finally, Luken Investment Analytics LLC raised its stake in shares of NVIDIA by 107.0% during the first quarter. Luken Investment Analytics LLC now owns 621 shares of the computer hardware maker's stock valued at $67,000 after acquiring an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NVDA. Barclays reaffirmed an "overweight" rating and set a $240.00 price target (up previously from $200.00) on shares of NVIDIA in a research note on Monday, September 22nd. Cantor Fitzgerald set a $300.00 price target on shares of NVIDIA and gave the company an "overweight" rating in a research note on Thursday, October 9th. Oppenheimer reaffirmed an "outperform" rating and set a $225.00 price target (up previously from $200.00) on shares of NVIDIA in a research note on Thursday, August 28th. Daiwa Capital Markets boosted their price objective on shares of NVIDIA from $165.00 to $205.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Finally, BNP Paribas raised shares of NVIDIA to a "hold" rating in a research note on Friday, August 1st. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of "Buy" and an average price target of $222.23.

NVIDIA Stock Performance

Shares of NVDA stock opened at $181.16 on Wednesday. The business's fifty day simple moving average is $179.37 and its 200-day simple moving average is $154.43. The company has a market cap of $4.40 trillion, a PE ratio of 51.61, a PEG ratio of 1.32 and a beta of 2.12. The company has a current ratio of 4.21, a quick ratio of 3.60 and a debt-to-equity ratio of 0.08. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $195.62.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. The business had revenue of $46.74 billion for the quarter, compared to the consensus estimate of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The business's quarterly revenue was up 55.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. NVIDIA has set its Q3 2026 guidance at EPS. Analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is presently 1.14%.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction on Monday, October 20th. The shares were sold at an average price of $183.38, for a total transaction of $13,753,500.00. Following the sale, the chief executive officer directly owned 70,108,203 shares of the company's stock, valued at $12,856,442,266.14. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 3,753,937 shares of company stock worth $669,548,776 over the last 90 days. 4.17% of the stock is owned by insiders.

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.

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