Hobbs Wealth Management LLC Sells 1,541 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Hobbs Wealth Management LLC reduced its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 16.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,558 shares of the computer hardware maker's stock after selling 1,541 shares during the period. NVIDIA makes up 0.9% of Hobbs Wealth Management LLC's portfolio, making the stock its 18th biggest position. Hobbs Wealth Management LLC's holdings in NVIDIA were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of NVDA. Centerpoint Advisory Group increased its stake in NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after acquiring an additional 943 shares during the last quarter. GSB Wealth Management LLC grew its stake in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after purchasing an additional 1,043 shares during the last quarter. Variant Private Wealth LLC grew its stake in NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after purchasing an additional 3,206 shares during the last quarter. Financial Perspectives Inc boosted its stake in shares of NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares during the last quarter. Finally, Hickory Point Bank & Trust purchased a new position in NVIDIA during the fourth quarter worth approximately $2,272,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Mizuho set a $192.00 target price on NVIDIA and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. TD Cowen lifted 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. Citigroup boosted their target price on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 7th. Barclays boosted their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. Finally, Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $181.22.

Insider Buying and Selling

In other news, Director A Brooke Seawell sold 48,792 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the transaction, the director directly owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. The trade was a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.88, for a total transaction of $3,417,600.00. Following the completion of the transaction, the chief financial officer owned 163,060 shares of the company's stock, valued at $27,863,692.80. The trade was a 10.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,964,800 shares of company stock valued at $734,906,003. Company insiders own 4.17% of the company's stock.

NVIDIA Trading Down 2.5%

Shares of NASDAQ NVDA opened at $167.03 on Wednesday. The company's fifty day moving average is $146.99 and its 200-day moving average is $129.81. The stock has a market cap of $4.08 trillion, a price-to-earnings ratio of 53.88, a P/E/G ratio of 1.51 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $174.25. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for 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 company's revenue was up 69.2% on a year-over-year basis. Equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

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.

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