Cornerstone Advisors Asset Management LLC Sells 3,411 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Cornerstone Advisors Asset Management LLC lowered its position in NVIDIA Corporation (NASDAQ:NVDA) by 42.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,708 shares of the computer hardware maker’s stock after selling 3,411 shares during the quarter. Cornerstone Advisors Asset Management LLC’s holdings in NVIDIA were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tacita Capital Inc bought a new position in shares of NVIDIA in the 4th quarter worth $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the 4th quarter worth $38,000. Copia Wealth Management bought a new position in shares of NVIDIA in the 4th quarter worth $50,000. LSV Asset Management bought a new position in shares of NVIDIA in the 4th quarter worth $54,000. Finally, Bruce G. Allen Investments LLC raised its stake 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 period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Piper Sandler restated an “overweight” rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Barclays increased their target price on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Wedbush reissued an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Mizuho set a $192.00 target price on NVIDIA and gave the company an “outperform” rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.22.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on 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 transaction, the director directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the company’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 completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,964,800 shares of company stock valued at $734,906,003. 4.17% of the stock is owned by insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $171.38 on Tuesday. 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 company has a market capitalization of $4.18 trillion, a P/E ratio of 55.28, a P/E/G 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. The firm has a 50-day moving average price of $146.99 and a two-hundred day moving average price of $129.81.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. Analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is currently 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.