Conning Inc. Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Conning Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,376 shares of the computer hardware maker’s stock after selling 993 shares during the quarter. Conning Inc.’s holdings in NVIDIA were worth $12,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of NVDA. Moody Lynn & Lieberson LLC raised its position in shares of NVIDIA by 7.2% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker’s stock valued at $38,737,000 after purchasing an additional 5,998 shares during the period. TrueMark Investments LLC bought a new stake in NVIDIA in the 4th quarter valued at $2,639,000. McLean Asset Management Corp increased its holdings in NVIDIA by 11.7% in the 4th quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock valued at $871,000 after acquiring an additional 186 shares during the last quarter. Shilanski & Associates Inc. increased its holdings in NVIDIA by 15.9% in the 4th quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker’s stock valued at $1,477,000 after acquiring an additional 410 shares during the last quarter. Finally, WealthPLAN Partners LLC increased its holdings in NVIDIA by 14.3% in the 4th quarter. WealthPLAN Partners LLC now owns 7,938 shares of the computer hardware maker’s stock valued at $3,931,000 after acquiring an additional 996 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $795.18 on Tuesday. The company has a market cap of $1.99 trillion, a PE ratio of 66.60, a P/E/G ratio of 1.09 and a beta of 1.73. The company has a fifty day moving average price of $846.17 and a two-hundred day moving average price of $627.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. NVIDIA Co. has a 12 month low of $262.25 and a 12 month high of $974.00.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm’s revenue was up 265.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. Research analysts expect that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The shares were 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 $1,931,700. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John Dabiri sold 128 shares of NVIDIA 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 transaction, the director now directly owns 2,055 shares of the company’s stock, valued at $1,931,700. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock worth $52,689,898 over the last ninety days. 3.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research reports. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Mizuho lifted their price target on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. lifted their price target on shares of NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. DA Davidson lifted their price objective on shares of NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $900.00 price objective on shares of NVIDIA in a research note on Monday, March 4th. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $940.30.

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.