Cornerstone Planning Group LLC Has $1.10 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Cornerstone Planning Group LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,029 shares of the computer hardware maker’s stock after purchasing an additional 207 shares during the quarter. NVIDIA comprises about 0.2% of Cornerstone Planning Group LLC’s investment portfolio, making the stock its 26th largest position. Cornerstone Planning Group LLC’s holdings in NVIDIA were worth $1,096,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Lantz Financial LLC lifted its position in shares of NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock worth $5,088,000 after purchasing an additional 36,774 shares in the last quarter. Whitener Capital Management Inc. increased its holdings in shares of NVIDIA by 920.4% in the second quarter. Whitener Capital Management Inc. now owns 129,725 shares of the computer hardware maker’s stock valued at $16,026,000 after purchasing an additional 117,012 shares in the last quarter. Trivant Custom Portfolio Group LLC raised its position in NVIDIA by 891.4% in the 2nd quarter. Trivant Custom Portfolio Group LLC now owns 74,830 shares of the computer hardware maker’s stock worth $9,244,000 after purchasing an additional 67,282 shares during the last quarter. Bar Harbor Wealth Management lifted its holdings in NVIDIA by 937.5% during the 2nd quarter. Bar Harbor Wealth Management now owns 58,720 shares of the computer hardware maker’s stock worth $7,254,000 after buying an additional 53,060 shares in the last quarter. Finally, Shulman DeMeo Asset Management LLC boosted its position in NVIDIA by 1,013.3% in the 2nd quarter. Shulman DeMeo Asset Management LLC now owns 7,949 shares of the computer hardware maker’s stock valued at $982,000 after buying an additional 7,235 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NVDA shares. Wedbush boosted their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Mizuho raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. DA Davidson boosted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Citigroup raised their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $137.01 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a 50-day moving average of $139.97 and a 200-day moving average of $127.97. The stock has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 53.92, a PEG ratio of 2.43 and a beta of 1.63. NVIDIA Co. has a fifty-two week low of $47.32 and a fifty-two week high of $152.89.

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

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,351,886 shares of company stock worth $176,825,650 in the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Company 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.