NVIDIA Corporation (NASDAQ:NVDA) Shares Bought by Cornerstone Planning Group LLC

Key Points

• Cornerstone Planning Group LLC increased its holdings in NVIDIA by 30.9%, owning 28,418 shares valued at approximately $2.9 million, making NVIDIA its 19th largest investment.
• Multiple analysts have given NVIDIA mixed ratings, with one firm upgrading it to a "strong buy" while others maintain varying buy and sell ratings, leading to an average consensus rating of "Moderate Buy".
• NVIDIA announced a quarterly dividend of $0.01 per share, reflecting a 0.0% yield, and has experienced significant insider selling, with over 5 million shares sold by company insiders in the past 90 days.

Cornerstone Planning Group LLC boosted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,418 shares of the computer hardware maker's stock after buying an additional 6,713 shares during the period. NVIDIA accounts for approximately 0.7% of Cornerstone Planning Group LLC's portfolio, making the stock its 19th biggest holding. Cornerstone Planning Group LLC's holdings in NVIDIA were worth $2,919,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NVDA. Wealth Group Ltd. grew its stake in shares of NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after purchasing an additional 100 shares during the last quarter. Tallon Kerry Patrick purchased a new position in shares of NVIDIA in the 4th quarter valued at approximately $972,000. Brighton Jones LLC grew its stake in shares of NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after purchasing an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of NVIDIA by 1.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock valued at $315,100,000 after purchasing an additional 22,929 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its stake in shares of NVIDIA by 6.7% in the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock valued at $7,842,000 after purchasing an additional 3,653 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NVDA shares. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Loop Capital lifted their price target on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Finally, Citigroup lifted their price target on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus price target of $182.03.

NVIDIA Stock Performance

NVIDIA stock opened at $173.72 on Monday. The firm has a market capitalization of $4.24 trillion, a P/E ratio of 56.04, a PEG ratio of 1.53 and a beta of 2.14. The stock has a fifty day moving average price of $155.30 and a 200 day moving average price of $132.28. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

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

NVIDIA Dividend Announcement

The company also recently declared 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the completion of the sale, the chief executive officer directly owned 73,748,225 shares in the company, valued at $13,181,757,736.50. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director A Brooke Seawell sold 48,792 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,339,800 shares of company stock valued at $800,141,003. Company insiders own 4.17% of the company's stock.

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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