NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Abundance Wealth Counselors

Abundance Wealth Counselors cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 79,152 shares of the computer hardware maker's stock after selling 4,462 shares during the period. NVIDIA comprises about 1.9% of Abundance Wealth Counselors' holdings, making the stock its 12th biggest holding. Abundance Wealth Counselors' holdings in NVIDIA were worth $8,909,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. RF&L Wealth Management LLC boosted its stake in NVIDIA by 19.9% during the 1st quarter. RF&L Wealth Management LLC now owns 18,045 shares of the computer hardware maker's stock worth $1,956,000 after purchasing an additional 3,000 shares during the last quarter. Good Steward Wealth Advisors LLC purchased a new position in shares of NVIDIA in the first quarter worth about $314,000. Alta Capital Management LLC boosted its position in NVIDIA by 19.3% during the first quarter. Alta Capital Management LLC now owns 679,191 shares of the computer hardware maker's stock worth $73,611,000 after acquiring an additional 109,967 shares during the last quarter. Avior Wealth Management LLC grew its stake in NVIDIA by 4.0% during the 1st quarter. Avior Wealth Management LLC now owns 238,128 shares of the computer hardware maker's stock valued at $25,808,000 after acquiring an additional 9,104 shares in the last quarter. Finally, True Link Financial Advisors LLC raised its holdings in NVIDIA by 159.9% in the 1st quarter. True Link Financial Advisors LLC now owns 5,331 shares of the computer hardware maker's stock valued at $578,000 after acquiring an additional 3,280 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 0.5%

NASDAQ NVDA traded up $0.86 during trading on Friday, reaching $164.96. 174,573,520 shares of the company's stock were exchanged, compared to its average volume of 266,405,222. The company has a 50 day moving average price of $140.52 and a two-hundred day moving average price of $128.60. The stock has a market cap of $4.03 trillion, a P/E ratio of 53.21, a price-to-earnings-growth ratio of 1.44 and a beta of 2.13. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $167.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its 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 business had revenue of $44.06 billion for 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 firm earned $0.61 EPS. On average, equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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%.

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,520,246 shares of company stock valued at $660,253,045. Corporate insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NVDA. Rosenblatt Securities boosted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Truist Financial boosted their price objective on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Wedbush restated an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Citigroup lifted their price target on NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday. Finally, Loop Capital boosted their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus target price of $177.03.

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.