Cornerstone Enterprises LLC Purchases 8,139 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Cornerstone Enterprises LLC raised its position in NVIDIA Corporation (NASDAQ:NVDA) by 12.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,884 shares of the computer hardware maker’s stock after buying an additional 8,139 shares during the period. NVIDIA comprises about 4.9% of Cornerstone Enterprises LLC’s portfolio, making the stock its 8th largest holding. Cornerstone Enterprises LLC’s holdings in NVIDIA were worth $8,116,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NVDA. Tacita Capital Inc acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $38,000. Copia Wealth Management acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $50,000. Bruce G. Allen Investments LLC boosted its holdings in shares of NVIDIA by 198.2% during the 1st 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. Finally, LSV Asset Management acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 4,964,800 shares of company stock worth $734,906,003. 4.17% of the stock is owned by company insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $172.41 on Friday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $146.99 and a 200 day moving average price of $129.86. The company has a market cap of $4.21 trillion, a P/E ratio of 55.62, a PEG ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.25.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. Sell-side analysts predict 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. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NVDA shares. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. Barclays lifted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, Needham & Company LLC lifted their price target on shares of NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. One investment 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

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.