Cornerstone Wealth Management LLC Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cornerstone Wealth Management LLC raised its position in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,989 shares of the computer hardware maker’s stock after acquiring an additional 1,653 shares during the period. NVIDIA makes up about 0.9% of Cornerstone Wealth Management LLC’s investment portfolio, making the stock its 20th largest position. Cornerstone Wealth Management LLC’s holdings in NVIDIA were worth $10,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Peoples Financial Services CORP. bought a new stake in NVIDIA during the 3rd quarter valued at $30,000. Your Advocates Ltd. LLP bought a new position in NVIDIA during the 3rd quarter worth about $30,000. Marquette Asset Management LLC purchased a new position in NVIDIA during the 2nd quarter valued at about $34,000. Trivant Custom Portfolio Group LLC boosted its stake in shares of NVIDIA by 44.1% during the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after purchasing an additional 30 shares in the last quarter. Finally, MRP Capital Investments LLC purchased a new position in NVIDIA during the second quarter valued at approximately $42,000. 64.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $483.18, for a total transaction of $4,831,800.00. Following the transaction, the director now directly owns 989,831 shares in the company, valued at $478,266,542.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, Director John Dabiri sold 218 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $484.99, for a total transaction of $105,727.82. Following the transaction, the director now directly owns 2,183 shares in the company, valued at $1,058,733.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $483.18, for a total value of $4,831,800.00. Following the completion of the sale, the director now owns 989,831 shares in the company, valued at $478,266,542.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 155,216 shares of company stock worth $79,810,950. Company insiders own 3.99% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $700.99 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.59 and a quick ratio of 3.06. The business has a 50 day simple moving average of $535.91 and a 200-day simple moving average of $481.86. The firm has a market capitalization of $1.73 trillion, a PE ratio of 92.48, a price-to-earnings-growth ratio of 2.78 and a beta of 1.69. NVIDIA Co. has a 1 year low of $204.21 and a 1 year high of $702.20.

NVIDIA (NASDAQ:NVDAGet Free Report) last posted its quarterly earnings results on Tuesday, November 21st. The computer hardware maker reported $4.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.99. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $16.19 billion. NVIDIA had a return on equity of 72.28% and a net margin of 42.10%. The business’s revenue was up 205.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. Equities research analysts anticipate that NVIDIA Co. will post 11.07 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 6th were given a $0.04 dividend. The ex-dividend date was Tuesday, December 5th. This represents a $0.16 annualized dividend and a yield of 0.02%. NVIDIA’s payout ratio is 2.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVDA. Rosenblatt Securities reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, November 22nd. Stifel Nicolaus restated a “buy” rating and issued a $600.00 price target on shares of NVIDIA in a report on Friday, November 17th. The Goldman Sachs Group boosted their price objective on shares of NVIDIA from $625.00 to $800.00 and gave the stock a “buy” rating in a research note on Monday. Needham & Company LLC restated a “buy” rating and issued a $600.00 target price on shares of NVIDIA in a research note on Wednesday, November 22nd. Finally, KeyCorp increased their price objective on NVIDIA from $650.00 to $740.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $616.35.

View Our Latest Analysis on NVDA

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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