Sims Investment Management LLC Takes $653,000 Position in NVIDIA Corporation (NASDAQ:NVDA)

Sims Investment Management LLC acquired a new position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,024 shares of the computer hardware maker's stock, valued at approximately $653,000. NVIDIA makes up 0.3% of Sims Investment Management LLC's investment portfolio, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Norges Bank purchased a new position in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC grew its holdings in NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the last quarter. Northern Trust Corp grew its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after purchasing an additional 23,948,733 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 20,000 shares of NVIDIA stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.88, for a total transaction of $3,417,600.00. Following the completion of the transaction, the chief financial officer directly owned 163,060 shares of the company's stock, valued at $27,863,692.80. The trade was a 10.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director A Brooke Seawell sold 48,792 shares of NVIDIA stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director directly owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. This represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock worth $734,906,003 in the last ninety days. Company insiders own 4.17% of the company's stock.

NVIDIA Price Performance

NVIDIA stock traded down $4.35 during trading hours on Tuesday, hitting $167.03. 183,478,288 shares of the company traded hands, compared to its average volume of 263,087,286. The firm's 50-day simple moving average is $146.99 and its two-hundred day simple moving average is $129.81. The firm has a market cap of $4.08 trillion, a P/E ratio of 53.88, a P/E/G ratio of 1.52 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.25.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue was up 69.2% on a year-over-year basis. During the same period last year, the business earned $0.61 earnings per share. As a group, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA's payout ratio is presently 1.29%.

Analysts Set New Price Targets

Several research analysts recently weighed in on NVDA shares. Citigroup upped their price target on shares of NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. TD Cowen increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Finally, Hsbc Global Res downgraded shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $181.22.

About NVIDIA

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.