Midwest Financial Group LLC Decreases Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Midwest Financial Group LLC reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,295 shares of the computer hardware maker’s stock after selling 185 shares during the quarter. Midwest Financial Group LLC’s holdings in NVIDIA were worth $574,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. Wealth Group Ltd. boosted its stake in NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after acquiring an additional 100 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $972,000. Capital & Planning LLC boosted its position in shares of NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock valued at $1,021,000 after purchasing an additional 1,099 shares during the period. Ironwood Wealth Management LLC. grew its stake in NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock worth $871,000 after buying an additional 104 shares during the last quarter. Finally, Brighton Jones LLC increased its position in NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after buying an additional 35,815 shares during the period. 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 company’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $163.11, for a total transaction of $12,233,250.00. Following the completion of the transaction, the chief executive officer owned 74,873,225 shares of the company’s stock, valued at approximately $12,212,571,729.75. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 49,131 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $162.83, for a total transaction of $8,000,000.73. Following the transaction, the director directly owned 1,826,382 shares in the company, valued at approximately $297,389,781.06. This represents a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,520,246 shares of company stock worth $660,253,045 over the last three months. Corporate insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NVDA shares. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Raymond James Financial increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 29th. TD Cowen increased their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $177.03.

NVIDIA Price Performance

NASDAQ:NVDA opened at $164.10 on Friday. The firm has a market cap of $4.00 trillion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 1.44 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $164.50. The company’s 50-day moving average is $140.52 and its two-hundred day moving average is $128.60.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 EPS. Research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

NVIDIA Company 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.