Cornerstone Financial Group LLC NE Invests $806,000 in NVIDIA Co. (NASDAQ:NVDA)

Cornerstone Financial Group LLC NE bought a new stake in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,000 shares of the computer hardware maker’s stock, valued at approximately $806,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA in the fourth quarter worth $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the 4th quarter worth $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the 4th quarter worth $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA in the 4th quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $131.29 on Monday. The company has a market capitalization of $3.21 trillion, a P/E ratio of 51.67, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. The firm’s 50 day simple moving average is $113.89 and its two-hundred day simple moving average is $126.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.36%.

Insider Buying and Selling at NVIDIA

In other news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,147 shares of company stock worth $17,133,207. Insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVDA. TD Cowen lowered their price target on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Piper Sandler reissued an “overweight” rating on shares of NVIDIA in a report on Friday, April 25th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $167.53.

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.