Abundance Wealth Counselors Sells 4,462 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Abundance Wealth Counselors lessened its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,152 shares of the computer hardware maker's stock after selling 4,462 shares during the quarter. NVIDIA makes up about 1.9% of Abundance Wealth Counselors' holdings, making the stock its 12th largest position. Abundance Wealth Counselors' holdings in NVIDIA were worth $8,909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GSB Wealth Management LLC raised its stake in NVIDIA by 3.3% in 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 holdings in NVIDIA by 20.6% in 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 buying an additional 3,206 shares during the period. Financial Perspectives Inc grew its holdings in NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after buying an additional 1,265 shares during the period. Hickory Point Bank & Trust purchased a new stake in NVIDIA in the 4th quarter valued at about $2,272,000. Finally, Pegasus Asset Management Inc. grew its holdings in NVIDIA by 0.3% in the 1st quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker's stock valued at $8,318,000 after buying an additional 197 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on NVDA. Oppenheimer restated an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a report on Monday, June 16th. Piper Sandler reiterated an "overweight" rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Bank of America boosted their target price on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. William Blair reiterated an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, Morgan Stanley reissued an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $176.47.

NVIDIA Stock Up 1.8%

NVIDIA stock traded up $2.88 during mid-day trading on Wednesday, hitting $162.88. The company's stock had a trading volume of 182,635,717 shares, compared to its average volume of 267,107,945. The firm's 50 day moving average is $138.39 and its 200 day moving average is $128.20. The company has a market cap of $3.97 trillion, a PE ratio of 52.54, a price-to-earnings-growth ratio of 1.40 and a beta of 2.13. 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 Corporation has a 52-week low of $86.62 and a 52-week high of $164.34.

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). 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%. The firm's revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. On average, analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were 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. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,296,844 shares of company stock valued at $624,019,677. 4.17% of the stock is currently owned by company insiders.

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.