Hartford Funds Management Co LLC increased its stake in NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 6.2% in the 1st quarter, HoldingsChannel reports. The fund owned 53,284 shares of the computer hardware maker’s stock after acquiring an additional 3,131 shares during the period. NVIDIA accounts for approximately 0.8% of Hartford Funds Management Co LLC’s holdings, making the stock its 11th largest holding. Hartford Funds Management Co LLC’s holdings in NVIDIA were worth $9,293,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in NVDA. Riverpoint Wealth Management Holdings LLC lifted its position in NVIDIA by 1.8% in the first quarter. Riverpoint Wealth Management Holdings LLC now owns 5,254 shares of the computer hardware maker’s stock worth $916,000 after purchasing an additional 91 shares during the period. Summit Wealth Group LLC boosted its stake in NVIDIA by 6.6% during the 1st quarter. Summit Wealth Group LLC now owns 27,023 shares of the computer hardware maker’s stock valued at $4,713,000 after purchasing an additional 1,665 shares in the last quarter. Calamos Wealth Management LLC increased its position in shares of NVIDIA by 2.1% during the 1st quarter. Calamos Wealth Management LLC now owns 976,409 shares of the computer hardware maker’s stock valued at $170,286,000 after purchasing an additional 19,758 shares during the period. Mattern Capital Management LLC increased its position in shares of NVIDIA by 3.5% during the 1st quarter. Mattern Capital Management LLC now owns 7,746 shares of the computer hardware maker’s stock valued at $1,351,000 after purchasing an additional 260 shares during the period. Finally, Sterling Group Wealth Management LLC raised its stake in shares of NVIDIA by 93.2% in the 1st quarter. Sterling Group Wealth Management LLC now owns 4,411 shares of the computer hardware maker’s stock worth $769,000 after buying an additional 2,128 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on NVDA. President Capital upped their price objective on NVIDIA from $280.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Craig Hallum boosted their price target on shares of NVIDIA from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. William Blair reissued an “outperform” rating on shares of NVIDIA in a report on Tuesday, June 2nd. Robert W. Baird set a $500.00 price objective on shares of NVIDIA and gave the company an “outperform” rating in a research report on Thursday, May 21st. Finally, DZ Bank reaffirmed a “buy” rating on shares of NVIDIA in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $304.26.
NVIDIA News Roundup
Here are the key news stories impacting NVIDIA this week:
- Positive Sentiment: NVIDIA announced a joint AI research lab with KAIST in Seoul, a $300 million collaboration that will fund researchers, internships, and AI infrastructure to advance agentic AI in South Korea. NVIDIA and KAIST Launch Joint AI Research Lab to Accelerate AI Innovation in Korea
- Positive Sentiment: The company also struck a $1.5 billion partnership with Amkor to expand advanced semiconductor packaging and test capacity in the U.S., reinforcing NVIDIA’s AI supply chain and manufacturing footprint. Nvidia, Amkor strike $1.5 billion chip packaging deal
- Positive Sentiment: Jensen Huang and NVIDIA joined Microsoft, Meta, and others in publicly backing open-source AI models, which could support broader AI adoption and future demand for NVIDIA GPUs. Nvidia, Microsoft and other tech giants back open-source AI models
- Positive Sentiment: Several technical reports say NVDA is holding support and may be forming a bullish inverse head-and-shoulders pattern, while other analysts point to a breakout above the 50-day moving average as a possible catalyst. NVIDIA Corp. (NVDA) Price Forecast: Can NVDA Break Above Key Resistance?
- Neutral Sentiment: Institutional filings show continued buying from some funds, but insider activity remains dominated by sales, which keeps sentiment mixed rather than decisively bullish. Fund Update: 337,821 NVIDIA (NVDA) shares added to COMGEST GLOBAL INVESTORS S.A.S. portfolio
- Negative Sentiment: Broader semiconductor shares have pulled back as investors take profits and worry about AI valuation levels and heavy capex spending, which has weighed on NVIDIA along with the rest of the AI trade. Semiconductor Crossroads: Healthy Consolidation or Deeper Repricing?
- Negative Sentiment: News flow also highlights investor rotation out of the biggest AI winners and concerns that the “Magnificent 7” are digesting a surge in AI infrastructure spending, creating near-term pressure on NVDA despite strong long-term demand. Magnificent 7 stocks shed hundreds of billions amid AI spending fears
NVIDIA Stock Performance
Shares of NASDAQ NVDA opened at $206.84 on Friday. The stock’s fifty day simple moving average is $207.85 and its 200 day simple moving average is $195.81. The stock has a market capitalization of $5.01 trillion, a price-to-earnings ratio of 31.68, a PEG ratio of 0.40 and a beta of 2.21. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.04. NVIDIA Corporation has a 52-week low of $164.07 and a 52-week high of $236.54.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 EPS for the quarter, beating the consensus estimate of $1.76 by $0.11. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The business had revenue of $81.61 billion during the quarter, compared to the consensus estimate of $78.42 billion. During the same period in the prior year, the business posted $0.81 earnings per share. NVIDIA’s revenue was up 85.2% compared to the same quarter last year. As a group, sell-side analysts forecast that NVIDIA Corporation will post 8.79 earnings per share for the current fiscal year.
NVIDIA Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.25 per share. This is a boost from NVIDIA’s previous quarterly dividend of $0.01. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, June 4th. NVIDIA’s payout ratio is currently 15.31%.
NVIDIA announced that its board has initiated a share buyback plan on Wednesday, May 20th that allows the company to repurchase $80.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Insiders Place Their Bets
In related news, Director John Dabiri sold 625 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $214.00, for a total value of $133,750.00. Following the completion of the sale, the director owned 14,163 shares in the company, valued at approximately $3,030,882. This represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark A. Stevens sold 885,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $210.17, for a total transaction of $186,000,450.00. Following the completion of the transaction, the director directly owned 5,207,271 shares of the company’s stock, valued at $1,094,412,146.07. This represents a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,901,125 shares of company stock worth $410,583,015 over the last ninety days. 3.94% of the stock is currently owned by company insiders.
NVIDIA Company Profile
NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.
The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.
Read More
- Five stocks we like better than NVIDIA
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA – Free Report).
Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.
