Migdal Insurance & Financial Holdings Ltd. Has $155.41 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Migdal Insurance & Financial Holdings Ltd. raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 846.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,257,878 shares of the computer hardware maker’s stock after buying an additional 1,124,982 shares during the quarter. NVIDIA accounts for about 2.6% of Migdal Insurance & Financial Holdings Ltd.’s investment portfolio, making the stock its 11th largest position. Migdal Insurance & Financial Holdings Ltd.’s holdings in NVIDIA were worth $155,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. BLB&B Advisors LLC grew its holdings in shares of NVIDIA by 843.8% during the 2nd quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock worth $70,513,000 after purchasing an additional 510,294 shares in the last quarter. Cypress Point Wealth Management LLC grew its holdings in shares of NVIDIA by 772.8% during the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock worth $739,000 after purchasing an additional 5,294 shares in the last quarter. McAdam LLC grew its holdings in shares of NVIDIA by 945.0% during the 2nd quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock worth $10,453,000 after purchasing an additional 76,517 shares in the last quarter. Perennial Advisors LLC grew its holdings in shares of NVIDIA by 910.9% during the 2nd quarter. Perennial Advisors LLC now owns 147,838 shares of the computer hardware maker’s stock worth $18,264,000 after purchasing an additional 133,213 shares in the last quarter. Finally, Sierra Capital LLC grew its holdings in shares of NVIDIA by 792.7% during the 2nd quarter. Sierra Capital LLC now owns 26,559 shares of the computer hardware maker’s stock worth $3,281,000 after purchasing an additional 23,584 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 1.6 %

Shares of NVIDIA stock opened at $116.00 on Friday. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. NVIDIA Co. has a 12 month low of $39.23 and a 12 month high of $140.76. The business has a fifty day simple moving average of $115.99 and a 200 day simple moving average of $107.11. The stock has a market cap of $2.85 trillion, a PE ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 122.4% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its board has initiated a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on NVDA. Benchmark restated a “buy” rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Melius Research raised their target price on NVIDIA from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. TD Cowen upgraded NVIDIA to a “strong-buy” rating in a research report on Monday, September 16th. Finally, StockNews.com downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.10.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total value of $16,092,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,254,995 shares of the company’s stock, valued at $10,628,094,829.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $134.10, for a total value of $16,092,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,254,995 shares of the company’s stock, valued at $10,628,094,829.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,692,303 shares of company stock valued at $444,047,307. Company insiders own 4.23% of the company’s stock.

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.