NVIDIA Corporation (NASDAQ:NVDA) is Cerity Partners LLC's 5th Largest Position

Key Points

• Cerity Partners LLC increased its investment in NVIDIA Corporation by 16.5% during the first quarter, owning approximately 10.8 million shares now valued at over $1.16 billion, making it the firm's 5th largest position.
• NVIDIA reported $0.81 earnings per share for the last quarter, falling short of estimates, while its revenue surged 69.2% year-over-year to $44.06 billion.
• Insider activity included the CFO selling 27,650 shares for approximately $4.7 million, while the CEO sold 75,000 shares worth about $13.36 million.

Cerity Partners LLC boosted its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 16.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,806,277 shares of the computer hardware maker's stock after purchasing an additional 1,526,640 shares during the period. NVIDIA comprises 2.4% of Cerity Partners LLC's investment portfolio, making the stock its 5th biggest position. Cerity Partners LLC's holdings in NVIDIA were worth $1,166,476,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Tacita Capital Inc acquired a new stake in NVIDIA during the 4th quarter valued at $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA during the 4th quarter valued at $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA during the fourth quarter worth $50,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of NVIDIA during the first quarter worth $51,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 1.0%

Shares of NVIDIA stock opened at $178.26 on Wednesday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.35 trillion, a P/E ratio of 57.50, a P/E/G ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.30. The business has a 50-day moving average price of $157.13 and a 200 day moving average price of $132.90.

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

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

Insider Activity

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the transaction, the chief financial officer directly owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.16, for a total value of $13,362,000.00. Following the completion of the transaction, the chief executive officer owned 73,523,225 shares of the company's stock, valued at approximately $13,098,897,766. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,489,800 shares of company stock valued at $826,553,003. 4.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NVDA. UBS Group restated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Raymond James Financial raised their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Jefferies Financial Group raised their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Finally, Mizuho set a $192.00 price objective on NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and a consensus target price of $182.03.

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.

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