Essex Financial Services Inc. Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Essex Financial Services Inc. raised its holdings in NVIDIA Co. (NASDAQ:NVDAFree Report) by 7.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,819 shares of the computer hardware maker’s stock after buying an additional 1,212 shares during the quarter. NVIDIA makes up approximately 1.5% of Essex Financial Services Inc.’s holdings, making the stock its 12th largest holding. Essex Financial Services Inc.’s holdings in NVIDIA were worth $16,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of NVDA. LFA Lugano Financial Advisors SA purchased a new stake in NVIDIA during the fourth quarter valued at about $28,000. Criterion Capital Advisors LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at about $28,000. Your Advocates Ltd. LLP purchased a new stake in shares of NVIDIA during the 3rd quarter worth about $30,000. Able Wealth Management LLC acquired a new stake in NVIDIA during the 4th quarter worth approximately $32,000. Finally, Trivant Custom Portfolio Group LLC raised its holdings in NVIDIA by 44.1% in the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA traded up $23.01 during midday trading on Monday, reaching $947.80. The stock had a trading volume of 31,769,689 shares, compared to its average volume of 49,691,730. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The company has a market capitalization of $2.33 trillion, a P/E ratio of 79.38, a P/E/G ratio of 1.31 and a beta of 1.75. The firm’s 50 day moving average price is $884.78 and its 200-day moving average price is $691.03. NVIDIA Co. has a 52 week low of $298.06 and a 52 week high of $974.00.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The company 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%. NVIDIA’s revenue was up 265.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. On average, analysts forecast that NVIDIA Co. will post 22.9 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is 1.34%.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,278 shares of company stock valued at $52,689,898. Corporate insiders own 3.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NVDA shares. Wedbush reiterated an “outperform” rating and set a $1,000.00 price objective on shares of NVIDIA in a research note on Thursday. JPMorgan Chase & Co. increased their price target on NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. TD Cowen raised their price objective on NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Robert W. Baird upped their target price on NVIDIA from $1,050.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $900.00 target price on shares of NVIDIA in a research note on Monday, March 4th. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $1,002.18.

Read Our Latest Research Report on NVDA

NVIDIA Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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