CCM Investment Advisers LLC Has $27.56 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

CCM Investment Advisers LLC reduced its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 254,313 shares of the computer hardware maker’s stock after selling 13,656 shares during the quarter. NVIDIA comprises 3.4% of CCM Investment Advisers LLC’s holdings, making the stock its 2nd largest holding. CCM Investment Advisers LLC’s holdings in NVIDIA were worth $27,562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tacita Capital Inc bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $50,000. Bruce G. Allen Investments LLC increased its holdings in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after acquiring an additional 327 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $54,000. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other news, Director Robert K. Burgess sold 50,000 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the sale, the director now directly owns 201,044 shares in the company, valued at $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,792,267 shares of company stock valued at $544,823,117 over the last three months. 4.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on NVDA. Loop Capital boosted their price objective on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp set a $190.00 price objective on NVIDIA in a report on Wednesday, March 19th. Summit Insights raised NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Barclays lifted their target price on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.78.

NVIDIA Price Performance

NASDAQ NVDA opened at $157.75 on Friday. The company has a market cap of $3.85 trillion, a PE ratio of 50.89, a price-to-earnings-growth ratio of 1.40 and a beta of 2.12. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $158.71. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $130.96 and its two-hundred day simple moving average is $126.97.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. Research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

NVIDIA 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.