Cim Investment Management Inc. Has $6.57 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Cim Investment Management Inc. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,539 shares of the computer hardware maker’s stock after buying an additional 32 shares during the quarter. NVIDIA accounts for 2.2% of Cim Investment Management Inc.’s investment portfolio, making the stock its 7th biggest position. Cim Investment Management Inc.’s holdings in NVIDIA were worth $6,573,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich boosted its stake in NVIDIA by 84,165.9% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,389,779,605 shares of the computer hardware maker’s stock worth $587,904,569,000 after acquiring an additional 1,388,130,327 shares in the last quarter. Geode Capital Management LLC boosted its stake in NVIDIA by 0.6% during the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock worth $12,763,663,000 after acquiring an additional 267,061 shares in the last quarter. Morgan Stanley boosted its stake in NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after acquiring an additional 4,621,002 shares in the last quarter. Norges Bank bought a new stake in NVIDIA during the fourth quarter worth about $3,900,874,000. Finally, Bank of New York Mellon Corp boosted its stake in NVIDIA by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 21,702,416 shares of the computer hardware maker’s stock worth $6,028,280,000 after acquiring an additional 322,662 shares in the last quarter. Hedge funds and other institutional investors own 64.79% of the company’s stock.

NVIDIA Trading Up 2.3 %

Shares of NVDA opened at $504.09 on Tuesday. NVIDIA Co. has a twelve month low of $138.84 and a twelve month high of $505.48. The company has a market cap of $1.25 trillion, a P/E ratio of 121.76, a P/E/G ratio of 3.80 and a beta of 1.69. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $445.22 and its 200-day simple moving average is $425.77.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.62. The business had revenue of $13.51 billion for the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business’s revenue for the quarter was up 101.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. As a group, analysts expect that NVIDIA Co. will post 9.66 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio is presently 3.86%.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total value of $13,478,648.88. Following the transaction, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at approximately $3,595,248,438.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the transaction, the chief executive officer now directly owns 7,918,875 shares in the company, valued at approximately $3,595,248,438.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 4,980 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the transaction, the chief financial officer now owns 499,428 shares in the company, valued at $230,106,456.72. The disclosure for this sale can be found here. Insiders have sold 145,232 shares of company stock valued at $67,606,089 in the last 90 days. Company insiders own 3.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NVDA. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $675.00 target price on shares of NVIDIA in a report on Thursday, November 9th. Oppenheimer lifted their target price on shares of NVIDIA from $500.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. The Goldman Sachs Group raised shares of NVIDIA from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 2nd. Robert W. Baird lifted their target price on shares of NVIDIA from $570.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Finally, Jefferies Financial Group lifted their target price on shares of NVIDIA from $500.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $571.49.

About NVIDIA

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.