Hartford Investment Management Co. Trims Stake in NVIDIA Corporation $NVDA

Key Points

• Hartford Investment Management Co. reduced its stake in NVIDIA Corporation by 1.5%, now holding 1,471,247 shares valued at approximately $232.4 million, representing 7.4% of its investment portfolio.
• Several other institutional investors significantly increased their holdings in NVIDIA, with some reporting jumps as high as 5,900% in just one quarter.
• Insider transactions have seen over 3.9 million shares sold by directors in the past ninety days, indicating a reduction in insider ownership alongside strong market performance.

Hartford Investment Management Co. cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,471,247 shares of the computer hardware maker's stock after selling 23,125 shares during the quarter. NVIDIA makes up about 7.4% of Hartford Investment Management Co.'s investment portfolio, making the stock its largest position. Hartford Investment Management Co.'s holdings in NVIDIA were worth $232,442,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. boosted its holdings in NVIDIA by 169.3% during the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after acquiring an additional 254 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA during the 1st quarter valued at about $51,000. Bruce G. Allen Investments LLC boosted its holdings in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after acquiring an additional 327 shares during the period. Campbell Capital Management Inc. boosted its holdings in NVIDIA by 5,900.0% during the 1st quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker's stock valued at $65,000 after acquiring an additional 590 shares during the period. Finally, Luken Investment Analytics LLC boosted its holdings in NVIDIA by 107.0% during the 1st quarter. Luken Investment Analytics LLC now owns 621 shares of the computer hardware maker's stock valued at $67,000 after acquiring an additional 321 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 350,000 shares of the firm's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $176.39, for a total value of $61,736,500.00. Following the transaction, the director directly owned 7,399,803 shares in the company, valued at $1,305,251,251.17. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Harvey C. Jones sold 250,000 shares of NVIDIA stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total value of $44,052,500.00. Following the transaction, the director owned 7,183,280 shares in the company, valued at $1,265,765,768.80. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,947,622 shares of company stock worth $694,333,235 in the last ninety days. Insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVDA. Wells Fargo & Company increased their target price on NVIDIA from $185.00 to $220.00 and gave the company an "overweight" rating in a report on Monday, August 11th. New Street Research increased their target price on NVIDIA from $200.00 to $235.00 and gave the company a "buy" rating in a report on Friday, September 12th. BNP Paribas upgraded NVIDIA to a "hold" rating in a report on Friday, August 1st. KeyCorp restated an "overweight" rating and set a $250.00 target price (up from $230.00) on shares of NVIDIA in a report on Tuesday, September 30th. Finally, Piper Sandler set a $225.00 target price on NVIDIA and gave the company an "overweight" rating in a report on Wednesday, August 13th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.26.

NVIDIA Stock Down 0.3%

NVIDIA stock opened at $185.04 on Wednesday. The firm has a market cap of $4.50 trillion, a price-to-earnings ratio of 52.72, a PEG ratio of 1.34 and a beta of 2.12. The stock has a fifty day simple moving average of $178.48 and a two-hundred day simple moving average of $149.30. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $191.05. The company has a current ratio of 4.21, a quick ratio of 3.60 and a debt-to-equity ratio of 0.08.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. The business had revenue of $46.74 billion during the quarter, compared to analyst estimates of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The company's quarterly revenue was up 55.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. NVIDIA has set its Q3 2026 guidance at EPS. Equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Thursday, September 11th. NVIDIA's dividend payout ratio (DPR) is 1.14%.

NVIDIA Company 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.

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