Fifth Third Wealth Advisors LLC Has $61.63 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Fifth Third Wealth Advisors LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 568,678 shares of the computer hardware maker's stock after purchasing an additional 62,911 shares during the period. NVIDIA makes up 3.2% of Fifth Third Wealth Advisors LLC's portfolio, making the stock its 6th biggest holding. Fifth Third Wealth Advisors LLC's holdings in NVIDIA were worth $61,633,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. DiNuzzo Private Wealth Inc. boosted its position in NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after purchasing an additional 71 shares in the last quarter. Baker Boyer National Bank raised its stake in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after buying an additional 76 shares during the period. SC&H Financial Advisors Inc. grew its stake in NVIDIA by 1.6% during the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock valued at $681,000 after acquiring an additional 80 shares in the last quarter. DecisionPoint Financial LLC increased 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 worth $386,000 after purchasing an additional 80 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC lifted its position in shares of NVIDIA by 0.7% during the fourth quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker's stock worth $1,544,000 after purchasing an additional 84 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NVDA. Benchmark reaffirmed a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. DA Davidson lifted their price objective on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a report on Thursday, April 3rd. Finally, TD Cowen upped their price target on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $172.24.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business's 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 sale, the director now directly owns 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,560,845 shares of company stock worth $360,351,849 in the last three months. 4.17% of the stock is currently owned by insiders.

NVIDIA Stock Performance

Shares of NVDA traded up $1.57 during trading hours on Thursday, reaching $144.40. 82,386,490 shares of the company's stock traded hands, compared to its average volume of 276,614,343. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization of $3.52 trillion, a price-to-earnings ratio of 56.83, a P/E/G ratio of 1.76 and a beta of 2.12. The business's fifty day simple moving average is $120.91 and its two-hundred day simple moving average is $126.34.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data 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 return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the firm earned $0.61 EPS. The business's revenue for the quarter was up 69.2% on a year-over-year basis. Analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid 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 is Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

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.