W.H. Cornerstone Investments Inc. Acquires 625 Shares of NVIDIA Co. (NASDAQ:NVDA)

W.H. Cornerstone Investments Inc. lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 25.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,045 shares of the computer hardware maker’s stock after purchasing an additional 625 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in NVIDIA were worth $370,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Lantz Financial LLC grew its stake in NVIDIA by 833.1% in the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after purchasing an additional 36,774 shares in the last quarter. Websterrogers Financial Advisors LLC raised its holdings in shares of NVIDIA by 568.4% in the 2nd quarter. Websterrogers Financial Advisors LLC now owns 1,818 shares of the computer hardware maker’s stock valued at $225,000 after purchasing an additional 1,546 shares during the period. Carolina Wealth Advisors LLC lifted its stake in NVIDIA by 829.3% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 920 shares of the computer hardware maker’s stock valued at $114,000 after purchasing an additional 821 shares during the last quarter. A. D. Beadell Investment Counsel Inc. bought a new position in NVIDIA during the second quarter worth about $259,000. Finally, Norway Savings Bank raised its stake in NVIDIA by 893.3% in the 2nd quarter. Norway Savings Bank now owns 53,210 shares of the computer hardware maker’s stock valued at $6,574,000 after acquiring an additional 47,853 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 1.1 %

NASDAQ NVDA opened at $128.91 on Thursday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The business has a 50 day moving average price of $139.72 and a 200-day moving average price of $127.08. The company has a market cap of $3.16 trillion, a price-to-earnings ratio of 50.73, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, equities analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

NVDA has been the subject of several research reports. Susquehanna lifted their price target on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. The Goldman Sachs Group increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Bank of America reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Craig Hallum upped their price objective on shares of NVIDIA from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Melius Research increased their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the sale, the chief financial officer now directly owns 4,954,214 shares in the company, valued at approximately $577,611,810.26. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,628,156 shares of company stock worth $209,985,077. 4.23% of the stock is owned by corporate insiders.

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.