The Hobbit is the story of Bilbo Baggins, Frodo's Uncle, as he travels around with a band of dwarves and finds a magic ring you may have heard about. It is absolutely worth reading. And once you finish The Hobbit, I suggest reading The Silmarilion as the frosting to your Tolkien cake.
No, The Hobbit was not a Newbery book. Tolkien was not an American and did not live in the United States, so was not qualified to win.
The HobbitThe Fellowship of the Ring, Book IThe Fellowship of the Ring, Book IIThe Two Towers, Book IThe Two Towers, Book IIThe Return of the King, Book IThe Return of the King, Book IIThe Silmarillion is another book that Tolkien also set in Middle-earth thousands of years before the first of the Hobbit books, but it is a history of the Elves and does not concern itself with Hobbits (except briefly in its final chapter where it reviews the events of the end of the Third Age from the point of view of the Elves, which differs slightly from the point of view of the Hobbits).
read the book!
There is no character called "blbo" in the Hobbit and we do not know what you mean by "frequentoy".
Bilbo Baggins is the title character of the book.