Abound Wealth Management Purchases 2,328 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Abound Wealth Management grew its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 13.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,788 shares of the computer hardware maker's stock after acquiring an additional 2,328 shares during the period. NVIDIA comprises about 0.7% of Abound Wealth Management's investment portfolio, making the stock its 20th biggest holding. Abound Wealth Management's holdings in NVIDIA were worth $2,145,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SC&H Financial Advisors Inc. increased its position in shares of NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock valued at $681,000 after buying an additional 80 shares during the period. DecisionPoint Financial LLC boosted its position in shares of NVIDIA by 2.9% during the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock valued at $386,000 after acquiring an additional 80 shares during the last quarter. BCR Wealth Strategies LLC grew its holdings in shares of NVIDIA by 3.1% during the fourth quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock worth $391,000 after purchasing an additional 89 shares in the last quarter. Condor Capital Management increased its position in shares of NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after purchasing an additional 89 shares during the last quarter. Finally, Squire Investment Management Company LLC increased its position in shares of NVIDIA by 4.0% in the fourth quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock worth $317,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NVDA. Citigroup reissued a "buy" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. Benchmark reiterated a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Oppenheimer reaffirmed an "outperform" rating and set a $175.00 price target on shares of NVIDIA in a research note on Monday, June 16th. Finally, Stifel Nicolaus set a $180.00 price objective on NVIDIA in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.78.

NVIDIA Stock Up 2.6%

Shares of NVDA traded up $3.95 during mid-day trading on Wednesday, reaching $157.25. The company had a trading volume of 170,637,789 shares, compared to its average volume of 263,404,531. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $158.71. The firm has a 50-day moving average price of $133.27 and a 200 day moving average price of $127.24. The company has a market capitalization of $3.84 trillion, a price-to-earnings ratio of 50.73, a price-to-earnings-growth ratio of 1.40 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 EPS. NVIDIA's revenue was up 69.2% on a year-over-year basis. On average, sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's payout ratio is 1.29%.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,044,919 shares of company stock valued at $584,414,209. Corporate insiders own 4.17% of the company's stock.

NVIDIA 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.