NVIDIA Co. (NASDAQ:NVDA) is CCM Investment Advisers LLC’s Largest Position

CCM Investment Advisers LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 267,969 shares of the computer hardware maker’s stock after selling 13,314 shares during the period. NVIDIA makes up 4.0% of CCM Investment Advisers LLC’s portfolio, making the stock its biggest position. CCM Investment Advisers LLC’s holdings in NVIDIA were worth $35,986,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new position in shares of NVIDIA in the second quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA during the third quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the 2nd quarter worth about $31,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the 4th quarter worth about $34,000. Finally, West Financial Advisors LLC bought a new position in NVIDIA during the 3rd quarter valued at about $36,000. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. UBS Group lifted their target price on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Melius Research increased their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company raised their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group upped their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Stock Performance

NASDAQ NVDA opened at $142.62 on Monday. The stock has a market capitalization of $3.49 trillion, a PE ratio of 56.13, a P/E/G ratio of 2.65 and a beta of 1.64. NVIDIA Co. has a 1-year low of $60.57 and a 1-year high of $153.13. The business has a 50 day simple moving average of $138.72 and a two-hundred day simple moving average of $129.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, research analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Company 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.