Cobblestone Asset Management LLC Takes Position in NVIDIA Corporation (NASDAQ:NVDA)

Cobblestone Asset Management LLC bought a new position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 1,890 shares of the computer hardware maker's stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. FMR LLC raised its stake in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after buying an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC raised its position in NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp lifted its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent research reports. Arete Research raised NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Oppenheimer restated an "outperform" rating and issued a $175.00 target price on shares of NVIDIA in a report on Monday, June 16th. Rosenblatt Securities lifted their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Mizuho raised their target price on shares of NVIDIA from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Finally, Citigroup lifted their target price on shares of NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $177.03.

NVIDIA Stock Up 0.7%

NASDAQ:NVDA traded up $1.22 on Thursday, reaching $164.10. The stock had a trading volume of 167,093,998 shares, compared to its average volume of 266,635,224. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $164.70. The stock has a market cap of $4.00 trillion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 1.42 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $139.47 and a 200 day moving average of $128.43.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the prior year, the company posted $0.61 EPS. The company's revenue for the quarter was up 69.2% on a year-over-year basis. On average, research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 50,514 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $158.37, for a total transaction of $7,999,902.18. Following the completion of the transaction, the director directly owned 1,974,784 shares of the company's stock, valued at $312,746,542.08. This trade represents a 2.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $158.35, for a total transaction of $11,876,250.00. Following the transaction, the chief executive officer directly owned 75,023,225 shares of the company's stock, valued at approximately $11,879,927,678.75. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,296,844 shares of company stock worth $624,019,677 over the last ninety days. 4.17% of the stock is currently owned by corporate insiders.

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.