Cim LLC Decreases Stake in NVIDIA Corporation $NVDA

Cim LLC trimmed its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,315 shares of the computer hardware maker’s stock after selling 27,356 shares during the period. NVIDIA comprises about 5.1% of Cim LLC’s investment portfolio, making the stock its biggest position. Cim LLC’s holdings in NVIDIA were worth $38,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC grew its stake in NVIDIA by 5.1% during the second quarter. Anchor Investment Management LLC now owns 83,907 shares of the computer hardware maker’s stock valued at $13,257,000 after acquiring an additional 4,108 shares in the last quarter. State of Wyoming boosted its holdings in shares of NVIDIA by 1.0% in the 2nd quarter. State of Wyoming now owns 76,299 shares of the computer hardware maker’s stock worth $12,054,000 after purchasing an additional 726 shares during the period. Asset Dedication LLC increased its position in NVIDIA by 2.1% during the second quarter. Asset Dedication LLC now owns 114,756 shares of the computer hardware maker’s stock valued at $18,130,000 after acquiring an additional 2,331 shares during the last quarter. Capital Impact Advisors LLC raised its position in NVIDIA by 9.8% in the 2nd quarter. Capital Impact Advisors LLC now owns 145,041 shares of the computer hardware maker’s stock worth $23,142,000 after purchasing an additional 12,971 shares during the period. Finally, Old North State Trust LLC lifted its stake in shares of NVIDIA by 2.9% during the 2nd quarter. Old North State Trust LLC now owns 46,963 shares of the computer hardware maker’s stock worth $7,420,000 after acquiring an additional 1,322 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director A Brooke Seawell sold 12,728 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $183.93, for a total transaction of $2,341,061.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 626 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $179.42, for a total value of $112,316.92. Following the sale, the director owned 17,792 shares of the company’s stock, valued at approximately $3,192,240.64. This represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,754,474 shares of company stock valued at $499,562,617 over the last quarter. Insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of a number of research analyst reports. Susquehanna lifted their price objective on shares of NVIDIA from $230.00 to $250.00 and gave the company a “positive” rating in a report on Thursday, November 20th. President Capital lifted their price target on shares of NVIDIA from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 28th. UBS Group reiterated a “buy” rating on shares of NVIDIA in a report on Tuesday, December 9th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price objective on shares of NVIDIA in a report on Thursday, November 20th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $265.00 target price on shares of NVIDIA in a report on Thursday, November 20th. Four research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $258.65.

NVIDIA Trading Down 3.3%

Shares of NASDAQ NVDA opened at $175.02 on Monday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $212.19. The business has a fifty day moving average price of $186.69 and a 200 day moving average price of $174.09. The stock has a market capitalization of $4.25 trillion, a P/E ratio of 43.43, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The business had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The firm’s revenue was up 62.5% on a year-over-year basis. 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 given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA’s dividend payout ratio is presently 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.