Cornerstone Wealth Management LLC Boosts Stake in NVIDIA Corporation (NASDAQ:NVDA)

Cornerstone Wealth Management LLC grew its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 242,773 shares of the computer hardware maker's stock after buying an additional 3,138 shares during the period. NVIDIA makes up 1.8% of Cornerstone Wealth Management LLC's portfolio, making the stock its 6th biggest position. Cornerstone Wealth Management LLC's holdings in NVIDIA were worth $26,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in NVIDIA in the fourth quarter valued at about $43,515,504,000. GAMMA Investing LLC raised its holdings in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares during the period. Northern Trust Corp increased its holdings in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of NVIDIA by 204.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after purchasing an additional 23,948,733 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on NVDA shares. Bank of America increased their price objective on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. HSBC downgraded shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. DA Davidson increased their target price on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Oppenheimer reaffirmed an "outperform" rating and issued a $175.00 target price on shares of NVIDIA in a research report on Monday, June 16th. Finally, Benchmark reissued a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $176.19.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. The trade was a 4.02% 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, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,044,919 shares of company stock valued at $584,414,209 over the last ninety days. Company insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

NVDA opened at $159.28 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The business has a fifty day simple moving average of $136.38 and a 200 day simple moving average of $127.84. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $160.98. The company has a market capitalization of $3.89 trillion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 the consensus estimate of $43.09 billion. During the same period in the previous year, the firm posted $0.61 EPS. The company's revenue was up 69.2% compared to the same quarter last year. Research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's payout ratio is presently 1.29%.

NVIDIA 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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