NVIDIA Co. (NASDAQ:NVDA) is Hartford Investment Management Co.’s 2nd Largest Position

Hartford Investment Management Co. reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,515,858 shares of the computer hardware maker’s stock after selling 32,283 shares during the period. NVIDIA comprises about 6.7% of Hartford Investment Management Co.’s holdings, making the stock its 2nd largest holding. Hartford Investment Management Co.’s holdings in NVIDIA were worth $203,565,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NVDA. Hoertkorn Richard Charles lifted its holdings in shares of NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its holdings in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after purchasing an additional 71 shares during the last quarter. Smart Portfolios LLC lifted its holdings in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC increased its position in NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares during the period. Finally, Baker Boyer National Bank increased its position in NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after acquiring an additional 76 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVDA stock opened at $121.67 on Friday. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock’s 50 day moving average price is $129.26 and its 200 day moving average price is $131.19. The firm has a market cap of $2.97 trillion, a P/E ratio of 47.88, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVDA. Barclays boosted their price target on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Truist Financial boosted their price target on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Bank of America boosted their price target on NVIDIA from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $171.51.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,039,125 shares of company stock valued at $137,062,338 in the last quarter. 4.23% of the stock is currently owned by company insiders.

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.