NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Lessened by Conning Inc.

Conning Inc. trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 203,983 shares of the computer hardware maker’s stock after selling 11,560 shares during the quarter. Conning Inc.’s holdings in NVIDIA were worth $27,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter valued at approximately $27,000. Legend Financial Advisors Inc. bought a new position in NVIDIA during the fourth quarter valued at approximately $34,000. West Financial Advisors LLC bought a new position in NVIDIA during the third quarter valued at approximately $36,000. Luken Investment Analytics LLC bought a new position in NVIDIA during the fourth quarter valued at approximately $40,000. Finally, DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NVDA shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Thursday, February 27th. Robert W. Baird boosted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research note on Monday, February 24th. Finally, Melius Research boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $171.69.

NVIDIA Stock Up 1.9 %

NVDA opened at $112.69 on Monday. The firm’s 50-day simple moving average is $131.66 and its 200-day simple moving average is $131.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The firm has a market cap of $2.75 trillion, a price-to-earnings ratio of 44.35, 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 for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Equities research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,107,632 shares of company stock valued at $146,405,286. 4.23% of the stock is owned by 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.