Hartford Financial Management Inc. Has $6.68 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Hartford Financial Management Inc. lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,761 shares of the computer hardware maker’s stock after purchasing an additional 1,516 shares during the quarter. NVIDIA accounts for 1.4% of Hartford Financial Management Inc.’s portfolio, making the stock its 15th largest position. Hartford Financial Management Inc.’s holdings in NVIDIA were worth $6,682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the second quarter valued at $31,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the fourth quarter worth $34,000. West Financial Advisors LLC bought a new position in shares of NVIDIA during the third quarter valued at $36,000. Finally, Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at $40,000. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction 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 $589,726,376.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,107,632 shares of company stock worth $146,405,286. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 2.8 %

NVIDIA stock opened at $126.63 on Wednesday. The firm has a market capitalization of $3.10 trillion, a price-to-earnings ratio of 49.83, a PEG ratio of 1.76 and a beta of 1.62. The company’s 50 day simple moving average is $134.55 and its 200 day simple moving average is $131.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Tuesday, January 7th. Needham & Company LLC boosted their target price on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Melius Research increased their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Bank of America reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.21.

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.