NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. cut its stake in NVIDIA Corporation (NASDAQ:NVDA) by 20.6% during the 1st quarter, HoldingsChannel reports. The fund owned 428,591 shares of the computer hardware maker’s stock after selling 111,372 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in NVIDIA were worth $46,462,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter worth $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in NVIDIA during the first quarter worth $51,000. Bruce G. Allen Investments LLC lifted its stake in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after purchasing an additional 327 shares during the last quarter. LSV Asset Management bought a new position in shares of NVIDIA in the 4th quarter worth about $54,000. Finally, Delos Wealth Advisors LLC lifted its position in shares of NVIDIA by 134.8% in the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock worth $66,000 after buying an additional 283 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $182.02 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The company has a market capitalization of $4.44 trillion, a PE ratio of 58.72, a price-to-earnings-growth ratio of 1.60 and a beta of 2.14. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The business has a 50 day simple moving average of $163.18 and a 200 day simple moving average of $135.00.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 earnings per share. On average, sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 1.29%.

Insider Activity

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on 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. The trade was a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,837,440 shares of company stock valued at $889,404,782. Company insiders own 4.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. BNP Paribas upgraded shares of NVIDIA to a “hold” rating in a research report on Friday, August 1st. Piper Sandler set a $225.00 target price on shares of NVIDIA and gave the stock an “overweight” rating in a report on Wednesday. Citigroup raised their target price on shares of NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Truist Financial raised their price target on NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Finally, Barclays raised their price target on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $186.33.

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.