Cigna Investments Inc. New Sells 1,813 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cigna Investments Inc. New decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,751 shares of the computer hardware maker’s stock after selling 1,813 shares during the quarter. NVIDIA accounts for approximately 5.7% of Cigna Investments Inc. New’s holdings, making the stock its 2nd largest position. Cigna Investments Inc. New’s holdings in NVIDIA were worth $32,464,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NVDA. Wealthcare Capital Partners LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at about $1,097,000. Latitude Advisors LLC grew its holdings in shares of NVIDIA by 6.7% during the fourth quarter. Latitude Advisors LLC now owns 24,111 shares of the computer hardware maker’s stock valued at $3,238,000 after purchasing an additional 1,522 shares during the last quarter. Sovran Advisors LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $14,088,000. Strengthening Families & Communities LLC lifted its holdings in shares of NVIDIA by 12.1% in the 4th quarter. Strengthening Families & Communities LLC now owns 82,359 shares of the computer hardware maker’s stock worth $11,060,000 after purchasing an additional 8,878 shares during the last quarter. Finally, Compound Global Advisors LLC acquired a new position in NVIDIA during the 4th quarter valued at approximately $1,477,000. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NVDA shares. Robert W. Baird increased their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Morgan Stanley reiterated an “overweight” rating and issued a $162.00 price objective (up from $152.00) on shares of NVIDIA in a research report on Wednesday, February 26th. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a report on Thursday, February 27th. Finally, Loop Capital reissued a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $171.69.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $115.58 on Friday. The company’s fifty day moving average is $129.71 and its two-hundred day moving average is $131.20. The company has a market cap of $2.82 trillion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Equities analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,039,125 shares of company stock valued at $137,062,338. Corporate 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.