Cornercap Investment Counsel Inc. Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cornercap Investment Counsel Inc. grew its position in NVIDIA Co. (NASDAQ:NVDA) by 5.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,900 shares of the computer hardware maker’s stock after acquiring an additional 209 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in NVIDIA were worth $1,931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NVDA. LFA Lugano Financial Advisors SA acquired a new stake in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Peoples Financial Services CORP. acquired a new stake in shares of NVIDIA in the third quarter valued at approximately $30,000. Your Advocates Ltd. LLP acquired a new stake in shares of NVIDIA in the third quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC lifted its holdings in shares of NVIDIA by 44.1% during the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after purchasing an additional 30 shares during the period. Finally, O Brien Wealth Partners LLC lifted its holdings in shares of NVIDIA by 139.5% during the fourth quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock worth $45,000 after purchasing an additional 53 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Jefferies Financial Group increased their price target on NVIDIA from $610.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. UBS Group increased their price target on NVIDIA from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Wells Fargo & Company increased their price target on NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. The Goldman Sachs Group increased their price target on NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, TD Cowen increased their price target on NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $940.30.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,278 shares of company stock valued at $52,689,898. Insiders own 3.99% of the company’s stock.

NVIDIA Trading Up 4.4 %

NVIDIA stock opened at $795.18 on Tuesday. The stock has a market cap of $1.99 trillion, a PE ratio of 66.60, a P/E/G ratio of 1.09 and a beta of 1.73. The stock has a 50-day moving average price of $846.17 and a 200 day moving average price of $627.28. NVIDIA Co. has a 52 week low of $262.25 and a 52 week high of $974.00. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s quarterly revenue was up 265.3% compared to the same quarter last year. Equities research analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

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.