Phoenix Financial Ltd. Raises Stock Holdings in NVIDIA Corporation $NVDA

Phoenix Financial Ltd. lifted its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 19.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,636,325 shares of the computer hardware maker's stock after acquiring an additional 267,112 shares during the period. NVIDIA accounts for about 2.7% of Phoenix Financial Ltd.'s investment portfolio, making the stock its 9th largest position. Phoenix Financial Ltd.'s holdings in NVIDIA were worth $177,472,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. High Note Wealth LLC raised its holdings in NVIDIA by 0.5% in the 1st quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock worth $1,937,000 after acquiring an additional 91 shares during the period. Kelly Financial Services LLC increased its stake in shares of NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after purchasing an additional 94 shares during the period. Next Capital Management LLC lifted its position in shares of NVIDIA by 0.8% during the 1st quarter. Next Capital Management LLC now owns 12,589 shares of the computer hardware maker's stock worth $1,364,000 after purchasing an additional 94 shares during the last quarter. Mendel Capital Management LLC boosted its stake in NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after purchasing an additional 96 shares during the period. Finally, Affiance Financial LLC grew its holdings in NVIDIA by 0.7% in the 1st quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker's stock valued at $1,479,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $179.76, for a total value of $13,482,000.00. Following the transaction, the chief executive officer owned 72,848,225 shares in the company, valued at approximately $13,095,196,926. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the completion of the transaction, the chief financial officer owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,912,440 shares of company stock valued at $902,886,782. 4.17% of the stock is currently owned by insiders.

NVIDIA Stock Performance

NVIDIA stock traded up $0.15 during mid-day trading on Wednesday, hitting $181.92. 131,917,903 shares of the company's stock traded hands, compared to its average volume of 238,362,547. The firm has a 50 day simple moving average of $168.81 and a two-hundred day simple moving average of $138.11. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48. The stock has a market cap of $4.44 trillion, a price-to-earnings ratio of 58.68, a P/E/G ratio of 1.57 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

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 the consensus estimate 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 revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. On average, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wedbush increased their price objective on NVIDIA from $175.00 to $210.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. KeyCorp boosted their target price on NVIDIA from $190.00 to $215.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. The Goldman Sachs Group assumed coverage on shares of NVIDIA in a research note on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price for the company. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, TD Cowen raised their price target on NVIDIA from $140.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $194.31.

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.