Hartford Funds Management Co LLC Acquires 340 Shares of NVIDIA Co. (NASDAQ:NVDA)

Hartford Funds Management Co LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,570 shares of the computer hardware maker’s stock after buying an additional 340 shares during the period. NVIDIA makes up approximately 0.2% of Hartford Funds Management Co LLC’s investment portfolio, making the stock its 12th biggest position. Hartford Funds Management Co LLC’s holdings in NVIDIA were worth $2,498,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. boosted its stake in NVIDIA by 897.5% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after buying an additional 107,169 shares during the period. Truepoint Inc. boosted its stake in NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after buying an additional 11,709 shares during the period. Westwood Holdings Group Inc. boosted its stake in NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after buying an additional 208,362 shares during the period. Blue Square Asset Management LLC raised its position in NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after purchasing an additional 10,136 shares in the last quarter. Finally, Narwhal Capital Management raised its position in NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after purchasing an additional 26,373 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research reports. Wedbush raised their price target on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Evercore ISI raised their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. HSBC lifted their price objective on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Piper Sandler lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Stock Performance

NVIDIA stock opened at $135.91 on Friday. The firm has a 50 day simple moving average of $139.90 and a 200-day simple moving average of $128.66. NVIDIA Co. has a 1-year low of $53.56 and a 1-year high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market cap of $3.33 trillion, a price-to-earnings ratio of 53.49, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.57%.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the sale, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Company insiders own 4.23% of the company’s stock.

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.