Bright Futures Wealth Management LLC. Sells 1,592 Shares of NVIDIA Corporation (NASDAQ:NVDA)

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

Other institutional investors have also bought and sold shares of the company. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter valued at about $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth about $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA in the 4th quarter worth about $50,000. LSV Asset Management acquired a new stake in shares of NVIDIA in the 4th quarter worth about $54,000. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after acquiring an additional 327 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Wedbush restated an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Barclays upped their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. The Goldman Sachs Group started coverage on shares of NVIDIA in a report on Thursday. They issued a "buy" rating and a $185.00 target price on the stock. Finally, Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $177.03.

NVIDIA Price Performance

NASDAQ NVDA traded up $0.82 on Friday, hitting $164.92. The stock had a trading volume of 193,205,730 shares, compared to its average volume of 266,417,627. The firm has a 50-day moving average of $140.52 and a 200-day moving average of $128.60. 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 has a market capitalization of $4.02 trillion, a price-to-earnings ratio of 53.20, a price-to-earnings-growth ratio of 1.44 and a beta of 2.13. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $167.84.

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

NVIDIA Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $163.11, for a total value of $12,233,250.00. Following the sale, the chief executive officer owned 74,873,225 shares of the company's stock, valued at $12,212,571,729.75. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director A Brooke Seawell sold 49,131 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $162.83, for a total transaction of $8,000,000.73. Following the completion of the sale, the director directly owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. This trade represents a 2.62% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,520,246 shares of company stock worth $660,253,045. Insiders own 4.17% 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.