Cigna Investments Inc. New Sells 94 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cigna Investments Inc. New lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 25,560 shares of the computer hardware maker’s stock after selling 94 shares during the quarter. NVIDIA comprises 2.6% of Cigna Investments Inc. New’s portfolio, making the stock its 5th largest holding. Cigna Investments Inc. New’s holdings in NVIDIA were worth $12,657,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new stake in NVIDIA in the fourth quarter valued at $28,000. Peoples Financial Services CORP. acquired a new position in shares of NVIDIA in the 3rd quarter valued at about $30,000. Your Advocates Ltd. LLP purchased a new stake in shares of NVIDIA in the third quarter worth about $30,000. Quarry LP acquired a new stake in NVIDIA during the first quarter worth about $34,000. Finally, Compass Wealth Management LLC purchased a new position in NVIDIA during the fourth quarter valued at approximately $39,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVDA stock opened at $880.08 on Friday. NVIDIA Co. has a 52-week low of $262.20 and a 52-week high of $974.00. The business has a fifty day moving average of $806.46 and a two-hundred day moving average of $593.45. The stock has a market cap of $2.20 trillion, a price-to-earnings ratio of 73.71, a price-to-earnings-growth ratio of 1.24 and a beta of 1.73. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. During the same period in the previous year, the firm earned $0.65 EPS. NVIDIA’s revenue was up 265.3% on a year-over-year basis. As a group, research analysts anticipate that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 11,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $905.65, for a total value of $9,962,150.00. Following the sale, the director now owns 1,074,833 shares in the company, valued at approximately $973,422,506.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other NVIDIA news, Director Mark A. Stevens sold 11,000 shares of NVIDIA stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $905.65, for a total value of $9,962,150.00. Following the completion of the transaction, the director now directly owns 1,074,833 shares of the company’s stock, valued at approximately $973,422,506.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. Insiders have sold 115,902 shares of company stock worth $74,597,148 over the last ninety days. Corporate insiders own 3.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on NVDA shares. Oppenheimer upped their price objective on NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. UBS Group raised their price target on shares of NVIDIA from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $1,100.00 price objective on shares of NVIDIA in a research report on Tuesday, February 20th. Wells Fargo & Company raised their target price on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, TD Cowen lifted their price target on NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $908.68.

NVIDIA 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.