Blossom Wealth Management Buys Shares of 889 NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 5th, 2023

Blossom Wealth Management bought a new stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 889 shares of the computer hardware maker’s stock, valued at approximately $247,000.

Several other large investors have also modified their holdings of the business. Opal Wealth Advisors LLC boosted its stake in shares of NVIDIA by 1.8% during the 1st quarter. Opal Wealth Advisors LLC now owns 2,103 shares of the computer hardware maker’s stock worth $584,000 after acquiring an additional 37 shares in the last quarter. Westhampton Capital LLC boosted its stake in shares of NVIDIA by 0.7% during the 1st quarter. Westhampton Capital LLC now owns 5,545 shares of the computer hardware maker’s stock worth $1,540,000 after acquiring an additional 40 shares in the last quarter. Naples Global Advisors LLC boosted its stake in shares of NVIDIA by 1.0% during the 1st quarter. Naples Global Advisors LLC now owns 4,309 shares of the computer hardware maker’s stock worth $1,197,000 after acquiring an additional 42 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in shares of NVIDIA by 15.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 329 shares of the computer hardware maker’s stock worth $91,000 after acquiring an additional 45 shares in the last quarter. Finally, Birch Capital Management LLC lifted its stake in NVIDIA by 3.1% in the 4th quarter. Birch Capital Management LLC now owns 1,589 shares of the computer hardware maker’s stock valued at $232,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 64.00% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $424.13 on Wednesday. The company has a quick ratio of 2.79, a current ratio of 3.43 and a debt-to-equity ratio of 0.40. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $439.90. The stock has a market capitalization of $1.05 trillion, a PE ratio of 220.90, a P/E/G ratio of 2.92 and a beta of 1.74. The firm has a 50 day moving average of $358.20 and a two-hundred day moving average of $267.50.

NVIDIA (NASDAQ:NVDA – Free Report) last issued its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating the consensus estimate of $0.92 by $0.17. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The company had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter last year, the company posted $1.18 EPS. The firm’s revenue was down 13.2% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 6.31 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 8th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, June 7th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 8.33%.

Insider Buying and Selling

In related news, EVP Debora Shoquist sold 23,084 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the transaction, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NVIDIA news, Director John Dabiri sold 283 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $424.53, for a total value of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares in the company, valued at $1,019,296.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Debora Shoquist sold 23,084 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The disclosure for this sale can be found here. Over the last quarter, insiders sold 368,271 shares of company stock worth $147,115,953. Corporate insiders own 3.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVDA. Jefferies Financial Group raised their price target on shares of NVIDIA from $472.00 to $500.00 in a research note on Tuesday, June 20th. UBS Group raised their price target on shares of NVIDIA from $315.00 to $475.00 in a research note on Thursday, May 25th. Daiwa Capital Markets raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and raised their price target for the company from $408.00 to $475.00 in a research note on Thursday, June 29th. Oppenheimer raised their price target on shares of NVIDIA from $350.00 to $420.00 in a research note on Thursday, May 25th. Finally, Mizuho increased their price objective on shares of NVIDIA from $290.00 to $400.00 in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $392.70.

NVIDIA Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.