Essex Financial Services Inc. Has $26.56 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Essex Financial Services Inc. boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 3.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 197,759 shares of the computer hardware maker’s stock after acquiring an additional 6,324 shares during the quarter. NVIDIA accounts for approximately 1.9% of Essex Financial Services Inc.’s investment portfolio, making the stock its 6th biggest holding. Essex Financial Services Inc.’s holdings in NVIDIA were worth $26,557,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB boosted its holdings in NVIDIA by 2.2% during the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after purchasing an additional 169,445 shares during the last quarter. Wealth Group Ltd. lifted its position in shares of NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after buying an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after buying an additional 350 shares during the last quarter. DLK Investment Management LLC grew its holdings in shares of NVIDIA by 7.1% in the third quarter. DLK Investment Management LLC now owns 7,039 shares of the computer hardware maker’s stock valued at $855,000 after acquiring an additional 464 shares in the last quarter. Finally, Davies Financial Advisors Inc. grew its holdings in shares of NVIDIA by 1.1% in the third quarter. Davies Financial Advisors Inc. now owns 26,795 shares of the computer hardware maker’s stock valued at $3,254,000 after acquiring an additional 295 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $115.58 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $129.71 and a 200-day moving average price of $131.20. The company has a market cap of $2.82 trillion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, equities analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Analysts Set New Price Targets

NVDA has been the subject of several research analyst reports. Raymond James raised their target price on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Robert W. Baird lifted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Morgan Stanley reissued an “overweight” rating and set a $162.00 target price (up from $152.00) on shares of NVIDIA in a research report on Wednesday, February 26th. Bank of America lifted their price target on shares of NVIDIA from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Truist Financial increased their price objective on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $171.69.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,039,125 shares of company stock valued at $137,062,338. Company insiders own 4.23% of the company’s stock.

NVIDIA Company 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.