NVIDIA Corporation (NASDAQ:NVDA) Position Lowered by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,757 shares of the computer hardware maker's stock after selling 5,805 shares during the quarter. NVIDIA accounts for approximately 9.3% of Blodgett Wealth Advisors LLC's holdings, making the stock its 3rd biggest position. Blodgett Wealth Advisors LLC's holdings in NVIDIA were worth $10,920,000 as of its most recent SEC filing.

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

Insider Activity at NVIDIA

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the transaction, the director now owns 201,044 shares in the company, valued at $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 125,836 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $137.79, for a total value of $17,338,942.44. Following the transaction, the director now directly owns 10,149,697 shares in the company, valued at approximately $1,398,526,749.63. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,792,267 shares of company stock worth $544,823,117. Insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wedbush restated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Susquehanna reissued a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. KeyCorp set a $190.00 target price on NVIDIA in a report on Wednesday, March 19th. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Finally, Bank of America upped their price target on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $175.78.

NVIDIA Trading Up 1.8%

Shares of NVDA stock opened at $157.75 on Monday. The company has a market cap of $3.85 trillion, a PE ratio of 50.89, a price-to-earnings-growth ratio of 1.40 and a beta of 2.12. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $158.71. The stock's 50 day simple moving average is $130.96 and its two-hundred day simple moving average is $126.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

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

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. 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.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.