Blossom Wealth Management Buys 1,690 Shares of NVIDIA Co. (NASDAQ:NVDA)

Blossom Wealth Management increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 34.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,634 shares of the computer hardware maker’s stock after buying an additional 1,690 shares during the period. NVIDIA makes up approximately 8.9% of Blossom Wealth Management’s holdings, making the stock its biggest position. Blossom Wealth Management’s holdings in NVIDIA were worth $3,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of NVDA. United Bank grew its holdings in shares of NVIDIA by 28.9% in the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after acquiring an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of NVIDIA by 6.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after buying an additional 249,045 shares in the last quarter. MAS Advisors LLC grew its holdings in shares of NVIDIA by 42.1% during the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after buying an additional 583 shares in the last quarter. Navis Wealth Advisors LLC grew its holdings in shares of NVIDIA by 205.3% during the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after buying an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in shares of NVIDIA during the first quarter valued at $929,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares in the company, valued at $896,933,663.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the transaction, the director now directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock worth $52,689,898 over the last three months. Company insiders own 3.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price target on NVIDIA from $610.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $910.00 price target on shares of NVIDIA in a report on Wednesday, March 20th. Wells Fargo & Company lifted their price target on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. HSBC lifted their price target on NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Tigress Financial boosted their target price on NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $940.30.

NVIDIA Price Performance

NASDAQ NVDA opened at $840.35 on Thursday. NVIDIA Co. has a twelve month low of $262.25 and a twelve month high of $974.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The stock has a market capitalization of $2.10 trillion, a PE ratio of 70.38, a P/E/G ratio of 1.26 and a beta of 1.73. The stock has a 50-day simple moving average of $840.89 and a 200 day simple moving average of $618.47.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The firm’s revenue was up 265.3% compared to the same quarter last year. Research analysts anticipate that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio is 1.34%.

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.