Migdal Insurance & Financial Holdings Ltd. Has $88.92 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Migdal Insurance & Financial Holdings Ltd. lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 41.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 732,142 shares of the computer hardware maker’s stock after selling 525,736 shares during the quarter. NVIDIA comprises approximately 1.4% of Migdal Insurance & Financial Holdings Ltd.’s holdings, making the stock its 20th largest position. Migdal Insurance & Financial Holdings Ltd.’s holdings in NVIDIA were worth $88,921,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Legal & General Group Plc boosted its position in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its position in shares of NVIDIA by 854.1% in the second quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of NVIDIA by 870.3% in the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after buying an additional 73,589,208 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $139.93 on Friday. The stock has a 50-day simple moving average of $139.99 and a 200 day simple moving average of $127.80. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.07, a P/E/G ratio of 2.43 and a beta of 1.64. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $47.32 and a 12-month high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, research analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,351,886 shares of company stock worth $176,825,650 over the last 90 days. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on NVDA. Oppenheimer restated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Craig Hallum increased their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein raised their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. DA Davidson upped their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.