NVIDIA Corporation (NASDAQ:NVDA) Holdings Increased by Hartford Financial Management Inc.

Hartford Financial Management Inc. grew its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 49.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,374 shares of the computer hardware maker’s stock after purchasing an additional 24,613 shares during the period. NVIDIA makes up 1.7% of Hartford Financial Management Inc.’s portfolio, making the stock its 10th biggest holding. Hartford Financial Management Inc.’s holdings in NVIDIA were worth $8,061,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NVDA. Wealth Group Ltd. increased its position in shares of NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after purchasing an additional 100 shares during the last quarter. Tallon Kerry Patrick bought a new stake in NVIDIA during the fourth quarter valued at approximately $972,000. Capital & Planning LLC grew its stake in NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock worth $1,021,000 after buying an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. increased its holdings in shares of NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock worth $871,000 after buying an additional 104 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after buying an additional 35,815 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 1.3%

NVIDIA stock opened at $159.28 on Monday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $160.98. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The business’s fifty day simple moving average is $136.38 and its two-hundred day simple moving average is $127.81. The company has a market capitalization of $3.89 trillion, a price-to-earnings ratio of 51.38, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share. As a group, equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NVDA. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Wedbush restated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Truist Financial increased their target price on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Oppenheimer reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, June 16th. Finally, UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $176.19.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 935,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. Insiders own 4.17% of the company’s stock.

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.