Cornerstone Enterprises LLC Has $8.12 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

Cornerstone Enterprises LLC grew its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 12.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,884 shares of the computer hardware maker's stock after acquiring an additional 8,139 shares during the quarter. NVIDIA comprises approximately 4.9% of Cornerstone Enterprises LLC's investment portfolio, making the stock its 8th biggest position. Cornerstone Enterprises LLC's holdings in NVIDIA were worth $8,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. Tacita Capital Inc purchased a new position in NVIDIA during the 4th quarter valued at about $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA in the 4th quarter valued at about $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA in the 4th quarter valued at about $50,000. Bruce G. Allen Investments LLC boosted its stake in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares during the period. Finally, LSV Asset Management purchased a new position in shares of NVIDIA in the 4th quarter valued at about $54,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.88, for a total value of $3,417,600.00. Following the completion of the sale, the chief financial officer directly owned 163,060 shares in the company, valued at approximately $27,863,692.80. The trade was a 10.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $172.52, for a total value of $12,939,000.00. Following the completion of the sale, the chief executive officer owned 74,348,225 shares of the company's stock, valued at $12,826,555,777. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock worth $734,906,003 in the last three months. 4.17% of the stock is owned by insiders.

NVIDIA Stock Down 1.8%

NVIDIA stock traded down $3.08 during midday trading on Tuesday, hitting $168.30. 133,105,146 shares of the company were exchanged, compared to its average volume of 262,897,397. The company's fifty day moving average price is $146.99 and its 200-day moving average price is $129.81. The company has a market cap of $4.11 trillion, a PE ratio of 54.21, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $174.25.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA's dividend payout ratio is presently 1.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Needham & Company LLC boosted their target price on NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. DA Davidson boosted their target price on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Oppenheimer boosted their target price on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and an average price target of $181.22.

About NVIDIA

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.