First Merchants Corp Trims Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

First Merchants Corp lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 150,129 shares of the computer hardware maker's stock after selling 3,016 shares during the quarter. First Merchants Corp's holdings in NVIDIA were worth $16,271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Condor Capital Management increased its stake in NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after purchasing an additional 89 shares in the last quarter. Kelly Financial Services LLC increased its position in shares of NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after acquiring an additional 94 shares in the last quarter. Macroview Investment Management LLC increased its position in shares of NVIDIA by 2.9% during the fourth quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker's stock worth $461,000 after acquiring an additional 96 shares in the last quarter. Foundry Financial Group Inc. increased its position in shares of NVIDIA by 2.2% during the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker's stock worth $589,000 after acquiring an additional 96 shares in the last quarter. Finally, Wallace Hart LLC increased its position in shares of NVIDIA by 3.9% during the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock worth $349,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

NVDA has been the topic of several analyst reports. Citigroup boosted 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. Barclays lifted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Raymond James Financial lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. Rosenblatt Securities lifted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $181.22.

Insider Activity

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,964,800 shares of company stock valued at $734,906,003 in the last three months. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

NASDAQ NVDA traded down $0.59 during trading hours on Friday, reaching $172.41. 145,724,125 shares of the company were exchanged, compared to its average volume of 263,966,224. The stock has a market capitalization of $4.21 trillion, a P/E ratio of 55.62, 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. The business's 50 day simple moving average is $146.99 and its 200-day simple moving average is $129.86. 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 quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the business posted $0.61 earnings per share. NVIDIA's revenue was up 69.2% compared to the same quarter last year. On average, equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

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.