Hartford Financial Management Inc. Decreases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Hartford Financial Management Inc. trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,761 shares of the computer hardware maker’s stock after selling 435 shares during the period. Hartford Financial Management Inc.’s holdings in NVIDIA were worth $2,358,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. United Bank lifted its stake in shares of NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after buying an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NVIDIA by 6.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after buying an additional 249,045 shares in the last quarter. MAS Advisors LLC lifted its stake in shares of NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock worth $545,000 after buying an additional 583 shares in the last quarter. Navis Wealth Advisors LLC lifted its stake in shares of NVIDIA by 205.3% in the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $791,000 after buying an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in shares of NVIDIA in the first quarter worth about $929,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NVDA shares. JPMorgan Chase & Co. raised their price objective on shares of NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Sanford C. Bernstein raised their price objective on shares of NVIDIA from $700.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. UBS Group raised their price objective on shares of NVIDIA from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. DA Davidson raised their price objective on shares of NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Finally, Truist Financial raised their price objective on shares of NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $940.30.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 128 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is currently owned by insiders.

NVIDIA Stock Down 10.0 %

Shares of NVIDIA stock opened at $762.00 on Friday. NVIDIA Co. has a 52-week low of $262.25 and a 52-week high of $974.00. The company has a 50 day moving average of $844.71 and a 200 day moving average of $622.23. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.91 trillion, a P/E ratio of 63.82, a P/E/G ratio of 1.22 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s revenue was up 265.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, research analysts forecast that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.34%.

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.