Cornerstone Wealth Management LLC grew its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,441 shares of the computer hardware maker's stock after acquiring an additional 8,801 shares during the period. NVIDIA comprises 2.1% of Cornerstone Wealth Management LLC's portfolio, making the stock its 6th largest holding. Cornerstone Wealth Management LLC's holdings in NVIDIA were worth $29,199,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Vanguard Group Inc. boosted its holdings in NVIDIA by 4.3% during the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker's stock worth $192,761,538,000 after buying an additional 8,828,050 shares in the last quarter. Legal & General Group Plc raised its position in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker's stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the last quarter. Bank of New York Mellon Corp raised its position in NVIDIA by 854.1% during the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker's stock worth $22,561,200,000 after acquiring an additional 163,482,580 shares during the last quarter. Ameriprise Financial Inc. raised its position in NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker's stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker's stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.
NVIDIA Stock Performance
Shares of NVDA opened at $145.89 on Thursday. The firm has a 50-day moving average price of $133.00 and a 200 day moving average price of $121.54. The firm has a market capitalization of $3.58 trillion, a PE ratio of 68.43, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. NVIDIA's revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.68 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is 1.88%.
NVIDIA declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. Westpark Capital boosted their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Craig Hallum upped their price target on shares of NVIDIA from $125.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Wedbush reaffirmed an "outperform" rating and set a $160.00 price target (up previously from $138.00) on shares of NVIDIA in a research report on Thursday, November 14th. TD Cowen raised shares of NVIDIA to a "strong-buy" rating in a research report on Monday, September 16th. Finally, Benchmark reaffirmed a "buy" rating and set a $170.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $154.63.
Check Out Our Latest Report on NVIDIA
Insider Activity
In other NVIDIA news, Director Mark A. Stevens sold 40,000 shares of the firm's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $121.01, for a total value of $4,840,400.00. Following the completion of the transaction, the director now directly owns 8,380,117 shares in the company, valued at $1,014,077,958.17. This trade represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company's stock, valued at approximately $57,370,572.59. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company's stock.
NVIDIA Profile
(
Free Report)
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.
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