Symphony Financial Ltd. Co. Grows Stock Position in NVIDIA Corporation $NVDA

Symphony Financial Ltd. Co. lifted its position in NVIDIA Corporation (NASDAQ:NVDA) by 2,080.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,541,429 shares of the computer hardware maker’s stock after acquiring an additional 2,424,879 shares during the quarter. NVIDIA accounts for approximately 2.0% of Symphony Financial Ltd. Co.’s holdings, making the stock its 7th largest position. Symphony Financial Ltd. Co.’s holdings in NVIDIA were worth $401,357,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NVDA. Generali Investments Management Co LLC raised its position in shares of NVIDIA by 3.0% during the 2nd quarter. Generali Investments Management Co LLC now owns 206,026 shares of the computer hardware maker’s stock valued at $32,506,000 after acquiring an additional 6,092 shares in the last quarter. Y.D. More Investments Ltd increased its stake in NVIDIA by 52.7% during the second quarter. Y.D. More Investments Ltd now owns 63,164 shares of the computer hardware maker’s stock valued at $9,978,000 after purchasing an additional 21,791 shares during the last quarter. Foundation Wealth Management LLC PA increased its stake in NVIDIA by 2.9% during the second quarter. Foundation Wealth Management LLC PA now owns 3,653 shares of the computer hardware maker’s stock valued at $577,000 after purchasing an additional 102 shares during the last quarter. Westpac Banking Corp raised its holdings in shares of NVIDIA by 1.7% during the second quarter. Westpac Banking Corp now owns 717,874 shares of the computer hardware maker’s stock worth $113,417,000 after purchasing an additional 12,045 shares during the period. Finally, Paul R. Ried Financial Group LLC lifted its position in shares of NVIDIA by 1.8% in the 2nd quarter. Paul R. Ried Financial Group LLC now owns 3,890 shares of the computer hardware maker’s stock worth $615,000 after buying an additional 68 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Down 0.5%

NVDA opened at $182.41 on Friday. The stock’s 50 day moving average price is $187.13 and its 200 day moving average price is $172.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. The stock has a market cap of $4.43 trillion, a P/E ratio of 45.26, a P/E/G ratio of 0.90 and a beta of 2.29. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $212.19.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.07. The company had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The company’s revenue for the quarter was up 62.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 earnings per share. As a group, research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Thursday, December 4th. NVIDIA’s payout ratio is 0.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NVDA shares. HSBC set a $320.00 price objective on shares of NVIDIA and gave the company a “buy” rating in a research report on Wednesday, October 15th. President Capital upped their target price on NVIDIA from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 28th. Wedbush increased their price target on NVIDIA from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Melius Research boosted their price objective on NVIDIA from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Finally, Robert W. Baird set a $275.00 price objective on NVIDIA and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $258.65.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $207.91, for a total transaction of $5,197,750.00. Following the sale, the chief executive officer owned 69,733,203 shares of the company’s stock, valued at $14,498,230,235.73. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 27,640 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $208.33, for a total value of $5,758,241.20. Following the transaction, the chief financial officer directly owned 2,828,122 shares of the company’s stock, valued at approximately $589,182,656.26. The trade was a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,949,931 shares of company stock valued at $531,605,955. 4.17% of the stock is currently owned by insiders.

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.