Cornerstone Advisors Asset Management LLC Has $1.09 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cornerstone Advisors Asset Management LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 251.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,119 shares of the computer hardware maker’s stock after buying an additional 5,811 shares during the quarter. Cornerstone Advisors Asset Management LLC’s holdings in NVIDIA were worth $1,090,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Convergence Investment Partners LLC increased its position in NVIDIA by 32.9% during the fourth quarter. Convergence Investment Partners LLC now owns 114,279 shares of the computer hardware maker’s stock worth $15,347,000 after buying an additional 28,318 shares during the last quarter. SilverOak Wealth Management LLC boosted its holdings in shares of NVIDIA by 1.8% during the fourth quarter. SilverOak Wealth Management LLC now owns 9,930 shares of the computer hardware maker’s stock worth $1,334,000 after acquiring an additional 180 shares during the period. Allied Investment Advisors LLC boosted its holdings in shares of NVIDIA by 11.1% during the fourth quarter. Allied Investment Advisors LLC now owns 4,655 shares of the computer hardware maker’s stock worth $625,000 after acquiring an additional 465 shares during the period. Atlas Legacy Advisors LLC bought a new stake in shares of NVIDIA during the fourth quarter worth approximately $3,384,000. Finally, Vawter Financial Ltd. bought a new stake in shares of NVIDIA during the fourth quarter worth approximately $221,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 0.7 %

Shares of NASDAQ:NVDA opened at $117.70 on Monday. The company has a fifty day moving average of $126.92 and a 200-day moving average of $131.36. The company has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.36%.

Analyst Ratings Changes

NVDA has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday. Wedbush restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Thursday, February 20th. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $171.51.

Insider Transactions at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock worth $22,117,015 over the last ninety days. 4.23% of the stock is owned by insiders.

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.