Cim Investment Management Inc. Has $32.05 Million Stock Holdings in NVIDIA Corporation $NVDA

Cim Investment Management Inc. raised its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 99.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,321 shares of the computer hardware maker’s stock after buying an additional 109,503 shares during the quarter. NVIDIA comprises 6.1% of Cim Investment Management Inc.’s portfolio, making the stock its 2nd largest position. Cim Investment Management Inc.’s holdings in NVIDIA were worth $32,046,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its position in shares of NVIDIA by 267,959.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock worth $64,976,521,000 after buying an additional 382,231,120 shares during the last quarter. Norges Bank acquired a new stake in NVIDIA during the second quarter worth about $51,386,863,000. Nuveen LLC acquired a new stake in NVIDIA during the first quarter worth about $15,089,414,000. Goldman Sachs Group Inc. lifted its holdings in NVIDIA by 123.5% in the first quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock worth $20,374,921,000 after acquiring an additional 103,889,872 shares during the last quarter. Finally, Laurel Wealth Advisors LLC boosted its stake in NVIDIA by 15,496.1% in the second quarter. Laurel Wealth Advisors LLC now owns 21,865,525 shares of the computer hardware maker’s stock valued at $3,454,534,000 after acquiring an additional 21,725,326 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on NVDA shares. Loop Capital increased their price target on NVIDIA from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Wedbush boosted their price target on shares of NVIDIA from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Mizuho upped their price target on shares of NVIDIA from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Bank of America lifted their price objective on shares of NVIDIA from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Daiwa Capital Markets boosted their target price on shares of NVIDIA from $165.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Four research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Buy” and an average target price of $258.65.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 350,000 shares of NVIDIA stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $176.39, for a total value of $61,736,500.00. Following the transaction, the director owned 7,399,803 shares of the company’s stock, valued at $1,305,251,251.17. The trade was a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Debora Shoquist sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $184.65, for a total transaction of $14,772,000.00. Following the completion of the sale, the executive vice president owned 1,574,443 shares in the company, valued at $290,720,899.95. The trade was a 4.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,754,474 shares of company stock valued at $499,562,617 in the last three months. 4.17% of the stock is currently owned by insiders.

NVIDIA Trading Down 3.3%

NVIDIA stock opened at $175.02 on Monday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $212.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. The stock has a market capitalization of $4.25 trillion, a PE ratio of 43.43, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. The firm has a 50 day simple moving average of $186.69 and a 200-day simple moving average of $174.09.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. The firm had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The firm’s revenue for the quarter was up 62.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 earnings per share. As a group, equities research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s dividend payout ratio (DPR) is currently 0.99%.

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.