Blue Zone Wealth Advisors LLC Has $2.37 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Blue Zone Wealth Advisors LLC trimmed its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,905 shares of the computer hardware maker’s stock after selling 496 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in NVIDIA were worth $2,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Independence Bank of Kentucky raised its position in NVIDIA by 34.1% in the 1st quarter. Independence Bank of Kentucky now owns 128,306 shares of the computer hardware maker’s stock worth $13,906,000 after purchasing an additional 32,624 shares during the last quarter. Harrington Investments INC increased its stake in shares of NVIDIA by 78.4% in the 1st quarter. Harrington Investments INC now owns 8,045 shares of the computer hardware maker’s stock valued at $872,000 after buying an additional 3,535 shares during the period. KFG Wealth Management LLC raised its position in shares of NVIDIA by 107.6% during the first quarter. KFG Wealth Management LLC now owns 16,984 shares of the computer hardware maker’s stock worth $1,841,000 after acquiring an additional 8,804 shares during the last quarter. City State Bank lifted its stake in shares of NVIDIA by 2.0% during the first quarter. City State Bank now owns 36,492 shares of the computer hardware maker’s stock valued at $3,955,000 after acquiring an additional 717 shares during the period. Finally, Impact Capital Partners LLC grew its position in shares of NVIDIA by 1.8% during the 1st quarter. Impact Capital Partners LLC now owns 75,533 shares of the computer hardware maker’s stock worth $8,186,000 after buying an additional 1,338 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 0.9%

NVIDIA stock opened at $145.48 on Friday. The company has a market cap of $3.55 trillion, a price-to-earnings ratio of 46.93, a P/E/G ratio of 1.28 and a beta of 2.12. The firm has a 50-day moving average of $125.72 and a 200-day moving average of $126.66. 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 one year low of $86.62 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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 company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. On average, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In related news, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the transaction, the director now owns 201,044 shares in the company, valued at approximately $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,469,685 shares of company stock valued at $349,669,962. 4.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday, March 19th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. TD Cowen lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Benchmark reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Finally, DA Davidson increased their target price on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.05.

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.