Bright Futures Wealth Management LLC. Has $1.32 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Bright Futures Wealth Management LLC. lessened its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,144 shares of the computer hardware maker's stock after selling 1,592 shares during the period. NVIDIA comprises 1.4% of Bright Futures Wealth Management LLC.'s portfolio, making the stock its 22nd largest holding. Bright Futures Wealth Management LLC.'s holdings in NVIDIA were worth $1,316,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NVDA. BCR Wealth Strategies LLC boosted its stake in NVIDIA by 3.1% during the 4th quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock valued at $391,000 after acquiring an additional 89 shares during the last quarter. Condor Capital Management raised its holdings in shares of NVIDIA by 3.6% during 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 period. Squire Investment Management Company LLC raised its holdings in shares of NVIDIA by 4.0% during 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 period. Kelly Financial Services LLC raised its holdings in shares of NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after purchasing an additional 94 shares during the period. Finally, Macroview Investment Management LLC raised its holdings in shares of NVIDIA by 2.9% during the fourth quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker's stock worth $461,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA traded up $0.82 during trading hours on Friday, hitting $164.92. 193,205,730 shares of the company's stock traded hands, compared to its average volume of 266,042,149. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $167.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company's fifty day simple moving average is $141.53 and its two-hundred day simple moving average is $128.69. The company has a market cap of $4.02 trillion, a price-to-earnings ratio of 53.20, a price-to-earnings-growth ratio of 1.46 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The business's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. Truist Financial increased their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $177.03.

Insider Activity

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,520,246 shares of company stock valued at $660,253,045. Corporate insiders own 4.17% of the company's stock.

About NVIDIA

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.