Cornerstone Advisors LLC Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Cornerstone Advisors LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,010,900 shares of the computer hardware maker's stock after acquiring an additional 2,800 shares during the period. NVIDIA makes up 5.4% of Cornerstone Advisors LLC's investment portfolio, making the stock its 2nd biggest holding. Cornerstone Advisors LLC's holdings in NVIDIA were worth $135,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Tacita Capital Inc acquired a new stake in NVIDIA in the fourth quarter valued at about $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the 4th quarter worth approximately $34,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at approximately $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA in the fourth quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the fourth quarter worth $46,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 3.0 %

NVDA stock traded down $3.16 during midday trading on Friday, reaching $101.33. 290,593,259 shares of the company's stock traded hands, compared to its average volume of 309,758,204. NVIDIA Co. has a fifty-two week low of $76.40 and a fifty-two week high of $195.95. The business has a 50-day moving average price of $116.56 and a two-hundred day moving average price of $129.86. The company has a market capitalization of $2.47 trillion, a P/E ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. Equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA's payout ratio is currently 1.36%.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares of the company's stock, valued at $55,997,190.40. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last 90 days. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NVDA shares. Truist Financial raised their target price on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Tigress Financial reissued a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Summit Insights lowered NVIDIA from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, Mizuho lowered their price target on NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $165.51.

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.