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

Migdal Insurance & Financial Holdings Ltd. cut its position in NVIDIA Co. (NASDAQ:NVDA) by 41.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 732,142 shares of the computer hardware maker’s stock after selling 525,736 shares during the period. NVIDIA comprises about 1.4% of Migdal Insurance & Financial Holdings Ltd.’s portfolio, making the stock its 20th largest position. Migdal Insurance & Financial Holdings Ltd.’s holdings in NVIDIA were worth $88,921,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. CGC Financial Services LLC acquired a new stake in NVIDIA during the 2nd quarter worth approximately $26,000. Quest Partners LLC acquired a new stake in shares of NVIDIA during the second quarter worth $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA in the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA in the 2nd quarter worth $31,000. Finally, FPC Investment Advisory Inc. raised its stake in shares of NVIDIA by 900.0% in the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after purchasing an additional 261 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

NASDAQ:NVDA opened at $139.93 on Friday. NVIDIA Co. has a 52 week low of $47.32 and a 52 week high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm’s 50-day simple moving average is $139.99 and its 200 day simple moving average is $127.80. The firm has a market cap 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.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,351,886 shares of company stock valued at $176,825,650. 4.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NVDA shares. Phillip Securities reaffirmed an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. UBS Group boosted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Westpark Capital raised their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Truist Financial boosted their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

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.