First Merchants Corp Cuts Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

First Merchants Corp trimmed its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,129 shares of the computer hardware maker’s stock after selling 3,016 shares during the period. First Merchants Corp’s holdings in NVIDIA were worth $16,271,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Graphene Investments SAS grew its stake in NVIDIA by 17.6% during the first quarter. Graphene Investments SAS now owns 47,500 shares of the computer hardware maker’s stock valued at $5,148,000 after acquiring an additional 7,100 shares in the last quarter. Holistic Planning LLC grew its stake in shares of NVIDIA by 2.1% in the 1st quarter. Holistic Planning LLC now owns 13,337 shares of the computer hardware maker’s stock worth $1,445,000 after buying an additional 275 shares in the last quarter. PDS Planning Inc grew its stake in shares of NVIDIA by 8.2% in the 1st quarter. PDS Planning Inc now owns 148,475 shares of the computer hardware maker’s stock worth $16,092,000 after buying an additional 11,309 shares in the last quarter. Motiv8 Investments LLC grew its stake in shares of NVIDIA by 4.8% in the 1st quarter. Motiv8 Investments LLC now owns 8,870 shares of the computer hardware maker’s stock worth $961,000 after buying an additional 406 shares in the last quarter. Finally, Kraft Davis & Associates LLC grew its stake in shares of NVIDIA by 25.3% in the 1st quarter. Kraft Davis & Associates LLC now owns 34,684 shares of the computer hardware maker’s stock worth $3,759,000 after buying an additional 6,996 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Morgan Stanley reissued an “overweight” rating and issued a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Truist Financial lifted their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $172.41 on Friday. 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 $174.25. The company has a 50 day simple moving average of $146.99 and a two-hundred day simple moving average of $129.90. The stock has a market cap of $4.21 trillion, a price-to-earnings ratio of 55.62, a PEG ratio of 1.52 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The business’s revenue was up 69.2% on a year-over-year basis. As a group, analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current 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 given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.29%.

Insider Activity at NVIDIA

In related news, Director A Brooke Seawell sold 48,792 shares of the firm’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the sale, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 27,650 shares of the firm’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,964,800 shares of company stock worth $734,906,003. 4.17% of the stock is owned by company insiders.

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.