NVIDIA Corporation (NASDAQ:NVDA) Shares Acquired by Hartford Financial Management Inc.

Hartford Financial Management Inc. lifted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 49.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,374 shares of the computer hardware maker's stock after purchasing an additional 24,613 shares during the quarter. NVIDIA comprises 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Tacita Capital Inc purchased a new position in NVIDIA during the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the 4th quarter worth $38,000. Copia Wealth Management acquired a new position in NVIDIA during the 4th quarter valued at about $50,000. Bruce G. Allen Investments LLC increased its position 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 buying an additional 327 shares in the last quarter. Finally, LSV Asset Management acquired a new position in NVIDIA during the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $1.10 during mid-day trading on Monday, reaching $158.24. 139,658,637 shares of the stock traded hands, compared to its average volume of 267,841,414. The business has a 50-day moving average of $136.38 and a 200 day moving average of $127.81. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $160.98. The stock has a market capitalization of $3.86 trillion, a PE ratio of 51.05, a PEG ratio of 1.41 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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 net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the business posted $0.61 EPS. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. On average, analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NVDA. Barclays boosted their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Raymond James Financial boosted their price target on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. Needham & Company LLC reiterated a "buy" rating and set a $160.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Finally, Bank of America upped their target price on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.47.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $157.53, for a total value of $11,814,750.00. Following the sale, the chief executive officer directly owned 75,323,225 shares of the company's stock, valued at approximately $11,865,667,634.25. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,044,919 shares of company stock valued at $584,414,209 over the last quarter. 4.17% of the stock is owned by insiders.

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.