NVIDIA Co. (NASDAQ:NVDA) Holdings Boosted by Cim Investment Management Inc.

Cim Investment Management Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 0.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,539 shares of the computer hardware maker’s stock after buying an additional 32 shares during the period. NVIDIA makes up approximately 2.2% of Cim Investment Management Inc.’s portfolio, making the stock its 7th largest holding. Cim Investment Management Inc.’s holdings in NVIDIA were worth $6,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. ICW Investment Advisors LLC acquired a new stake in NVIDIA in the second quarter valued at $289,000. Arjuna Capital acquired a new position in shares of NVIDIA during the 2nd quarter worth $3,791,000. Souders Financial Advisors acquired a new position in shares of NVIDIA during the 2nd quarter worth $317,000. AGF Management Ltd. raised its stake in shares of NVIDIA by 30.6% during the 2nd quarter. AGF Management Ltd. now owns 11,703 shares of the computer hardware maker’s stock worth $4,951,000 after buying an additional 2,743 shares during the last quarter. Finally, Heritage Wealth Advisors raised its stake in shares of NVIDIA by 93.2% during the 2nd quarter. Heritage Wealth Advisors now owns 7,605 shares of the computer hardware maker’s stock worth $3,217,000 after buying an additional 3,668 shares during the last quarter. 64.79% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NVIDIA stock opened at $504.09 on Tuesday. The stock’s 50 day moving average price is $445.22 and its 200 day moving average price is $425.77. The firm has a market capitalization of $1.25 trillion, a PE ratio of 121.76, a price-to-earnings-growth ratio of 3.80 and a beta of 1.69. 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 Co. has a one year low of $138.84 and a one year high of $505.48.

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

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s payout ratio is 3.86%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research reports. Evercore ISI lifted their price target on NVIDIA to $600.00 in a research note on Thursday, August 24th. Wells Fargo & Company lifted their price target on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, August 24th. Citigroup dropped their price objective on NVIDIA from $630.00 to $575.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Jefferies Financial Group lifted their price objective on NVIDIA from $500.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, JPMorgan Chase & Co. lifted their price objective on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have assigned 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $571.49.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $448.99, for a total value of $13,329,615.12. Following the transaction, the chief executive officer now directly owns 7,918,875 shares of the company’s stock, valued at approximately $3,555,495,686.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the transaction, the director now directly owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $448.99, for a total value of $13,329,615.12. Following the completion of the transaction, the chief executive officer now directly owns 7,918,875 shares in the company, valued at $3,555,495,686.25. The disclosure for this sale can be found here. Insiders have sold a total of 145,232 shares of company stock valued at $67,606,089 in the last three months. Corporate insiders own 3.99% of the company’s stock.

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.