NVIDIA Co. (NASDAQ:NVDA) Stake Decreased by Cigna Investments Inc. New

Cigna Investments Inc. New decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 241,751 shares of the computer hardware maker’s stock after selling 1,813 shares during the quarter. NVIDIA comprises approximately 5.7% of Cigna Investments Inc. New’s portfolio, making the stock its 2nd biggest holding. Cigna Investments Inc. New’s holdings in NVIDIA were worth $32,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVDA. Palisade Asset Management LLC raised its holdings in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the last quarter. SMART Wealth LLC increased its position in shares of NVIDIA by 289.5% in the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock valued at $9,711,000 after buying an additional 53,747 shares in the last quarter. Blue Square Asset Management LLC raised its stake in shares of NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares during the last quarter. Narwhal Capital Management boosted its position in shares of NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. grew its stake in NVIDIA by 46.7% in the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock valued at $2,043,000 after acquiring an additional 5,360 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of a number of research reports. Barclays lifted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Citigroup lifted their price objective on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Four equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.69.

NVIDIA Stock Down 0.1 %

Shares of NVIDIA stock opened at $115.58 on Friday. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The stock 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. 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 fifty day moving average price of $129.71 and a 200 day moving average price of $131.20.

NVIDIA (NASDAQ:NVDA) last issued 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. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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 given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.36%.

Insider Activity

In other news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,039,125 shares of company stock worth $137,062,338. 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.