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

Abundance Wealth Counselors cut its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,152 shares of the computer hardware maker's stock after selling 4,462 shares during the period. NVIDIA makes up about 1.9% of Abundance Wealth Counselors' portfolio, 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 Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of NVDA. RF&L Wealth Management LLC increased its holdings in shares of NVIDIA by 19.9% during the first quarter. RF&L Wealth Management LLC now owns 18,045 shares of the computer hardware maker's stock worth $1,956,000 after buying an additional 3,000 shares in the last quarter. Good Steward Wealth Advisors LLC bought a new stake in NVIDIA during the 1st quarter worth $314,000. Alta Capital Management LLC increased its holdings in NVIDIA by 19.3% in the 1st quarter. Alta Capital Management LLC now owns 679,191 shares of the computer hardware maker's stock worth $73,611,000 after purchasing an additional 109,967 shares in the last quarter. Avior Wealth Management LLC raised its position in NVIDIA by 4.0% in the first quarter. Avior Wealth Management LLC now owns 238,128 shares of the computer hardware maker's stock valued at $25,808,000 after purchasing an additional 9,104 shares during the last quarter. Finally, True Link Financial Advisors LLC raised its position in NVIDIA by 159.9% in the first quarter. True Link Financial Advisors LLC now owns 5,331 shares of the computer hardware maker's stock valued at $578,000 after purchasing an additional 3,280 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock traded up $1.22 on Thursday, reaching $164.10. The stock had a trading volume of 167,093,998 shares, compared to its average volume of 266,706,768. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $164.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The stock has a market cap of $4.00 trillion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 1.44 and a beta of 2.13. The business's 50-day moving average price is $139.47 and its two-hundred day moving average price is $128.43.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results 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). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS. On average, sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated 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 completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares of the company's stock, 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. Insiders sold a total of 4,296,844 shares of company stock worth $624,019,677 over the last 90 days. Corporate insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent research reports. Benchmark reiterated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Susquehanna restated a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. DA Davidson upped their target price on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Piper Sandler restated an "overweight" rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and a consensus target price of $177.03.

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.