Hartford Funds Management Co LLC Increases Holdings in NVIDIA Corporation $NVDA

Key Points

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Hartford Funds Management Co LLC lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 18.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,313 shares of the computer hardware maker's stock after acquiring an additional 4,153 shares during the quarter. NVIDIA accounts for about 0.3% of Hartford Funds Management Co LLC's holdings, making the stock its 14th biggest position. Hartford Funds Management Co LLC's holdings in NVIDIA were worth $2,852,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Copia Wealth Management purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA during the 1st quarter worth approximately $51,000. Bruce G. Allen Investments LLC boosted its stake in shares of NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after acquiring an additional 327 shares in the last quarter. LSV Asset Management purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $54,000. Finally, Delos Wealth Advisors LLC boosted its stake in shares of NVIDIA by 134.8% during the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock worth $66,000 after acquiring an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on NVDA shares. Morgan Stanley restated an "overweight" rating and set a $206.00 price objective (up from $200.00) on shares of NVIDIA in a research report on Monday. Mizuho lifted their price objective on NVIDIA from $192.00 to $205.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. Truist Financial lifted their price objective on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Bank of America lifted their price objective on NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Finally, Loop Capital lifted their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $187.61.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,912,440 shares of company stock worth $902,886,782. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $182.01 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The company's 50-day simple moving average is $164.75 and its 200-day simple moving average is $135.95. The stock has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.71, a PEG ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the business posted $0.61 EPS. The business's revenue for the quarter was up 69.2% on a year-over-year basis. Equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

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.

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