CIBC Asset Management Inc Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

CIBC Asset Management Inc lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,532,220 shares of the computer hardware maker’s stock after buying an additional 156,327 shares during the period. NVIDIA makes up 2.9% of CIBC Asset Management Inc’s holdings, making the stock its 6th largest position. CIBC Asset Management Inc’s holdings in NVIDIA were worth $877,116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVDA. International Assets Investment Management LLC raised its stake in shares of NVIDIA by 12,898.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after buying an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC bought a new stake in shares of NVIDIA in the 3rd quarter worth $4,589,905,000. Geode Capital Management LLC raised its stake in shares of NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after buying an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after purchasing an additional 6,526,200 shares during the period. Finally, National Pension Service raised its position in shares of NVIDIA by 14.9% during the third quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock worth $5,734,483,000 after purchasing an additional 6,118,674 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,109 shares of company stock valued at $22,117,015 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $117.70 on Friday. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a P/E/G ratio of 1.76 and a beta of 1.77. The stock has a 50-day simple moving average of $126.92 and a 200 day simple moving average of $131.18.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. Research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NVDA shares. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday. Morgan Stanley set a $162.00 target price on NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, February 20th. Finally, KeyCorp set a $190.00 price target on NVIDIA in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $171.51.

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.