Cumberland Partners Ltd Has $61.56 Million Stake in NVIDIA Corporation $NVDA

Cumberland Partners Ltd raised its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 21.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 389,648 shares of the computer hardware maker’s stock after buying an additional 69,024 shares during the period. NVIDIA comprises approximately 4.3% of Cumberland Partners Ltd’s investment portfolio, making the stock its 4th biggest holding. Cumberland Partners Ltd’s holdings in NVIDIA were worth $61,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new position in shares of NVIDIA in the second quarter valued at $28,000. Winnow Wealth LLC bought a new stake in shares of NVIDIA during the 2nd quarter worth about $32,000. Spurstone Advisory Services LLC acquired a new position in NVIDIA in the 2nd quarter valued at about $40,000. Kathleen S. Wright Associates Inc. raised its holdings in NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after acquiring an additional 254 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new stake in NVIDIA during the second quarter worth approximately $55,000. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $176.42, for a total value of $13,231,500.00. Following the completion of the transaction, the chief executive officer directly owned 71,683,203 shares in the company, valued at approximately $12,646,350,673.26. This represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total value of $44,052,500.00. Following the sale, the director directly owned 7,183,280 shares in the company, valued at approximately $1,265,765,768.80. This trade represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,149,931 shares of company stock worth $569,165,455. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $184.97 on Wednesday. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The stock has a market cap of $4.49 trillion, a PE ratio of 45.90, a P/E/G ratio of 0.91 and a beta of 2.29. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $212.19. The business’s 50-day moving average price is $187.17 and its two-hundred day moving average price is $173.11.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. The firm had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The business’s revenue for the quarter was up 62.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s payout ratio is presently 0.99%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NVDA shares. Truist Financial increased their target price on NVIDIA from $228.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Argus reiterated a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research report on Thursday, November 20th. Evercore ISI set a $352.00 target price on shares of NVIDIA and gave the company an “outperform” rating in a research report on Thursday, November 20th. Morgan Stanley upped their price target on shares of NVIDIA from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 1st. Finally, President Capital lifted their price objective on shares of NVIDIA from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 28th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Buy” and an average target price of $258.65.

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.