Trueblood Wealth Management LLC Boosts Stake in NVIDIA Corporation (NASDAQ:NVDA)

Trueblood Wealth Management LLC lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 11.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,142 shares of the computer hardware maker's stock after acquiring an additional 1,915 shares during the period. NVIDIA makes up about 1.0% of Trueblood Wealth Management LLC's portfolio, making the stock its 17th largest holding. Trueblood Wealth Management LLC's holdings in NVIDIA were worth $2,075,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Tacita Capital Inc bought a new position in shares of NVIDIA in the 4th quarter valued at $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the 4th quarter worth about $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the fourth quarter valued at about $40,000. Copia Wealth Management acquired a new stake in shares of NVIDIA during the fourth quarter valued at about $50,000. Finally, Bruce G. Allen Investments LLC increased its stake in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on 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 sale, the director now directly owns 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,393,863 shares of company stock valued at $483,709,832. 4.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Piper Sandler restated an "overweight" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Needham & Company LLC restated a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Rosenblatt Securities increased their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $175.78.

NVIDIA Price Performance

NASDAQ NVDA traded up $6.41 on Wednesday, reaching $154.31. 265,323,485 shares of the company's stock traded hands, compared to its average volume of 270,605,978. The stock has a market cap of $3.77 trillion, a PE ratio of 49.78, a P/E/G ratio of 1.27 and a beta of 2.12. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $154.98. The stock has a 50-day simple moving average of $127.76 and a 200 day simple moving average of $126.59. 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 earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. As a group, research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's payout ratio is currently 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.