Cornerstone Select Advisors LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,454 shares of the computer hardware maker's stock, valued at approximately $5,567,000. NVIDIA accounts for approximately 5.4% of Cornerstone Select Advisors LLC's holdings, making the stock its 2nd biggest holding.
A number of other hedge funds have also bought and sold shares of the company. FMR LLC increased its stake in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC increased its position in NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in NVIDIA by 0.9% in the 4th 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 buying an additional 3,721,331 shares in the last quarter. Norges Bank bought a new stake in NVIDIA in the 4th quarter valued at about $43,515,504,000. Finally, Northern Trust Corp boosted its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Institutional investors own 65.27% of the company's stock.
Analysts Set New Price Targets
NVDA has been the subject of several recent research reports. Rosenblatt Securities decreased their price objective on NVIDIA from $220.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. TD Cowen lowered their price objective on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a report on Thursday, April 3rd. Finally, KeyCorp set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $167.53.
Check Out Our Latest Analysis on NVDA
NVIDIA Price Performance
Shares of NVDA stock traded up $4.21 during trading hours on Tuesday, reaching $135.50. The stock had a trading volume of 191,793,409 shares, compared to its average volume of 288,540,280. The stock's fifty day simple moving average is $114.17 and its 200 day simple moving average is $126.54. The firm has a market capitalization of $3.31 trillion, a PE ratio of 53.33, a PEG ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.36%.
Insider Buying and Selling at NVIDIA
In related news, Director Robert K. Burgess sold 53,324 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 2,663 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 in the last 90 days. Corporate insiders own 4.17% of the company's stock.
About NVIDIA
(
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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