Migdal Insurance & Financial Holdings Ltd. Cuts Position in NVIDIA Corporation (NASDAQ:NVDA)

Migdal Insurance & Financial Holdings Ltd. decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 20.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 428,591 shares of the computer hardware maker's stock after selling 111,372 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in NVIDIA were worth $46,462,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new position in NVIDIA in the 1st quarter valued at approximately $11,434,000. JDH Wealth Management LLC increased its stake in NVIDIA by 7.5% in the 1st quarter. JDH Wealth Management LLC now owns 13,895 shares of the computer hardware maker's stock valued at $1,506,000 after purchasing an additional 969 shares in the last quarter. Alexander Labrunerie & CO. Inc. increased its stake in NVIDIA by 6.1% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 60,150 shares of the computer hardware maker's stock valued at $6,519,000 after purchasing an additional 3,454 shares in the last quarter. Patton Albertson Miller Group LLC increased its position in shares of NVIDIA by 3.2% in the first quarter. Patton Albertson Miller Group LLC now owns 294,026 shares of the computer hardware maker's stock valued at $31,867,000 after buying an additional 9,253 shares in the last quarter. Finally, Independent Wealth Network Inc. increased its position in shares of NVIDIA by 2.7% in the first quarter. Independent Wealth Network Inc. now owns 24,668 shares of the computer hardware maker's stock valued at $2,674,000 after buying an additional 659 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,837,440 shares of company stock valued at $889,404,782. 4.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NVDA has been the subject of a number of research analyst reports. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group started coverage on shares of NVIDIA in a report on Thursday, July 10th. They set a "buy" rating and a $185.00 target price for the company. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Raymond James Financial raised 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. Finally, Piper Sandler set a $225.00 price target on NVIDIA and gave the stock an "overweight" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and a consensus target price of $186.33.

NVIDIA Price Performance

NVIDIA stock opened at $182.02 on Friday. The firm has a fifty day moving average of $163.18 and a 200-day moving average of $135.00. 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 52-week low of $86.62 and a 52-week high of $184.48. The firm has a market capitalization of $4.44 trillion, a P/E ratio of 58.72, a PEG ratio of 1.60 and a beta of 2.14.

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

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is presently 1.29%.

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.

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