Cornerstone Capital Inc. Decreases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cornerstone Capital Inc. reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,852 shares of the computer hardware maker’s stock after selling 915 shares during the period. Cornerstone Capital Inc.’s holdings in NVIDIA were worth $2,168,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hoertkorn Richard Charles boosted its stake in NVIDIA by 2.0% during the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after buying an additional 70 shares during the period. Total Wealth Planning LLC lifted its holdings in shares of NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after acquiring an additional 78 shares during the last quarter. Boyd Watterson Asset Management LLC OH boosted its position in shares of NVIDIA by 0.3% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares during the period. Pavion Blue Capital LLC increased its holdings in NVIDIA by 0.4% in the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after purchasing an additional 80 shares during the last quarter. Finally, L. Roy Papp & Associates LLP raised its position in NVIDIA by 2.5% in the third quarter. L. Roy Papp & Associates LLP now owns 3,471 shares of the computer hardware maker’s stock valued at $422,000 after purchasing an additional 85 shares during the period. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 165,100 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $121.27, for a total value of $20,021,677.00. Following the transaction, the director now directly owns 8,420,117 shares of the company’s stock, valued at approximately $1,021,107,588.59. This represents a 1.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,556,986 shares of company stock worth $201,687,727. 4.23% of the stock is owned by insiders.

NVIDIA Stock Up 1.4 %

NVDA stock opened at $130.68 on Friday. The firm has a fifty day moving average price of $139.63 and a two-hundred day moving average price of $127.11. 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 Co. has a 1-year low of $47.32 and a 1-year high of $152.89. The firm has a market cap of $3.20 trillion, a price-to-earnings ratio of 51.43, a PEG 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA announced that its Board of Directors has initiated a share repurchase 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 reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 payout ratio is 1.57%.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research reports. Citigroup increased their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. The Goldman Sachs Group lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. William Blair assumed coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.15.

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.