Symphony Financial Ltd. Co. Has $13.01 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Symphony Financial Ltd. Co. reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 52.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,550 shares of the computer hardware maker’s stock after selling 129,412 shares during the period. NVIDIA accounts for approximately 7.5% of Symphony Financial Ltd. Co.’s holdings, making the stock its 2nd biggest position. Symphony Financial Ltd. Co.’s holdings in NVIDIA were worth $13,011,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of NVIDIA during the 4th quarter worth about $43,515,504,000. GAMMA Investing LLC increased its position in shares of NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares in the last quarter. Northern Trust Corp increased its position in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC increased its position in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in NVIDIA by 204.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock valued at $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVDA. Piper Sandler restated an “overweight” rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. TD Cowen raised their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Morgan Stanley restated an “overweight” rating and issued a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Finally, Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $177.03.

NVIDIA Trading Down 0.5%

NVIDIA stock opened at $164.07 on Tuesday. The stock has a market cap of $4.00 trillion, a P/E ratio of 52.93, a PEG ratio of 1.46 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $167.89. The firm’s 50 day moving average price is $142.53 and its 200-day moving average price is $128.80.

NVIDIA (NASDAQ:NVDA) last released 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s quarterly revenue was up 69.2% on a year-over-year basis. On average, equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $163.11, for a total value of $12,233,250.00. Following the completion of the sale, the chief executive officer directly owned 74,873,225 shares in the company, valued at $12,212,571,729.75. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director A Brooke Seawell sold 49,131 shares of NVIDIA stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $162.83, for a total value of $8,000,000.73. Following the completion of the sale, the director owned 1,826,382 shares of the company’s stock, valued at $297,389,781.06. The trade was a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,520,246 shares of company stock valued at $660,253,045 over the last three months. Insiders own 4.17% of the company’s stock.

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.