Cornerstone Wealth Advisors Inc. Lowers Holdings in NVIDIA Corporation $NVDA

Key Points

• Cornerstone Wealth Advisors Inc. reduced its stake in NVIDIA Corporation by 75.1% in the second quarter, leaving it with 1,406 shares valued at $222,000.
• Several hedge funds, including Kingstone Capital Partners and Goldman Sachs, dramatically increased their holdings in NVIDIA, highlighting ongoing institutional interest.
• NVIDIA recently reported a 55.6% year-over-year increase in revenue, along with a quarterly earnings per share of $1.05, surpassing analysts' expectations of $1.01.

Cornerstone Wealth Advisors Inc. reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 75.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,406 shares of the computer hardware maker's stock after selling 4,251 shares during the quarter. Cornerstone Wealth Advisors Inc.'s holdings in NVIDIA were worth $222,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NVDA. Kingstone Capital Partners Texas LLC boosted its stake in shares of NVIDIA by 267,959.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker's stock worth $64,976,521,000 after acquiring an additional 382,231,120 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NVIDIA by 2.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,794,926 shares of the computer hardware maker's stock worth $22,412,434,000 after purchasing an additional 5,896,735 shares during the period. Goldman Sachs Group Inc. boosted its position in NVIDIA by 123.5% during the first quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker's stock worth $20,374,921,000 after purchasing an additional 103,889,872 shares in the last quarter. Nuveen LLC acquired a new stake in NVIDIA in the first quarter valued at approximately $15,089,414,000. Finally, Amundi raised its stake in shares of NVIDIA by 16.0% during the 1st quarter. Amundi now owns 135,770,043 shares of the computer hardware maker's stock worth $13,826,199,000 after buying an additional 18,733,431 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent analyst reports. Mizuho increased their target price on NVIDIA from $205.00 to $225.00 and gave the company an "outperform" rating in a research report on Monday. DA Davidson raised shares of NVIDIA from a "neutral" rating to a "buy" rating and increased their price objective for the company from $195.00 to $210.00 in a report on Thursday, September 11th. Bank of America lifted their target price on shares of NVIDIA from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Citigroup reaffirmed a "buy" rating and issued a $210.00 price target (up from $200.00) on shares of NVIDIA in a research note on Tuesday, September 30th. Finally, Wedbush reiterated an "outperform" rating and set a $210.00 price objective on shares of NVIDIA in a research note on Thursday, August 28th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average price target of $214.15.

Insider Buying and Selling

In other news, CFO Colette Kress sold 30,500 shares of NVIDIA stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $176.40, for a total transaction of $5,380,200.00. Following the sale, the chief financial officer owned 2,883,402 shares of the company's stock, valued at approximately $508,632,112.80. The trade was a 1.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $190.20, for a total value of $14,265,000.00. Following the completion of the transaction, the chief executive officer owned 70,558,203 shares of the company's stock, valued at $13,420,170,210.60. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,678,937 shares of company stock valued at $653,013,526 in the last 90 days. Insiders own 4.17% of the company's stock.

NVIDIA Stock Down 4.4%

Shares of NVDA opened at $180.12 on Wednesday. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $195.62. The company has a quick ratio of 3.60, a current ratio of 4.21 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $179.36 and a two-hundred day simple moving average of $151.77. The company has a market capitalization of $4.38 trillion, a PE ratio of 51.32, a price-to-earnings-growth ratio of 1.36 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.04. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. The firm had revenue of $46.74 billion for the quarter, compared to analysts' expectations of $45.65 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The company's revenue was up 55.6% compared to the same quarter last year. NVIDIA has set its Q3 2026 guidance at EPS. As a group, equities analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is 1.14%.

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.

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