CCM Investment Advisers LLC Has $16.92 Million Position in NVIDIA Co. (NASDAQ:NVDA)

CCM Investment Advisers LLC grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,903 shares of the computer hardware maker’s stock after purchasing an additional 2,210 shares during the quarter. NVIDIA comprises approximately 2.4% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 6th largest position. CCM Investment Advisers LLC’s holdings in NVIDIA were worth $16,917,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter valued at $3,900,874,000. Moneta Group Investment Advisors LLC increased its stake in shares of NVIDIA by 160,446.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after acquiring an additional 19,574,443 shares in the last quarter. GQG Partners LLC bought a new stake in shares of NVIDIA in the 1st quarter valued at $2,290,856,000. Price T Rowe Associates Inc. MD increased its stake in shares of NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after acquiring an additional 5,043,685 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after acquiring an additional 4,621,002 shares in the last quarter. Institutional investors own 64.79% of the company’s stock.

Insider Activity

In other news, CFO Colette Kress sold 4,980 shares of the company’s 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 sale, the chief financial officer now directly owns 499,428 shares in the company, valued at $230,106,456.72. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director John Dabiri sold 283 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the completion of the transaction, the director now owns 2,401 shares of the company’s stock, valued at $1,019,296.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 4,980 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $460.74, for a total value of $2,294,485.20. Following the transaction, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. Insiders have sold a total of 234,429 shares of company stock worth $105,368,143 over the last ninety days. Company insiders own 3.99% of the company’s stock.

NVIDIA Trading Down 0.7 %

Shares of NVIDIA stock opened at $448.70 on Wednesday. NVIDIA Co. has a 52-week low of $108.13 and a 52-week high of $502.66. The stock’s 50-day simple moving average is $453.63 and its 200 day simple moving average is $362.27. The stock has a market capitalization of $1.11 trillion, a P/E ratio of 108.38, a P/E/G ratio of 3.71 and a beta of 1.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The business had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the previous year, the business posted $0.32 EPS. The firm’s quarterly revenue was up 101.5% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Co. will post 9.24 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Wednesday, September 6th. NVIDIA’s dividend payout ratio is presently 3.86%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVDA. Oppenheimer lifted their price objective on shares of NVIDIA from $500.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. BNP Paribas raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price target for the company in a research report on Thursday, August 24th. Craig Hallum lifted their price target on shares of NVIDIA from $500.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Wells Fargo & Company lifted their price target on shares of NVIDIA from $500.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, August 24th. Finally, Westpark Capital raised shares of NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $555.70.

NVIDIA Profile

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.