NVIDIA Co. (NASDAQ:NVDA) is GYL Financial Synergies LLC’s 9th Largest Position

GYL Financial Synergies LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 945.3% during the second quarter, HoldingsChannel.com reports. The firm owned 167,880 shares of the computer hardware maker’s stock after acquiring an additional 151,819 shares during the period. NVIDIA comprises approximately 1.6% of GYL Financial Synergies LLC’s holdings, making the stock its 9th biggest holding. GYL Financial Synergies LLC’s holdings in NVIDIA were worth $20,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. All Season Financial Advisors Inc. boosted its holdings in NVIDIA by 877.0% in the second quarter. All Season Financial Advisors Inc. now owns 4,211 shares of the computer hardware maker’s stock valued at $520,000 after acquiring an additional 3,780 shares during the last quarter. LaFleur & Godfrey LLC raised its holdings in shares of NVIDIA by 761.1% in the 2nd quarter. LaFleur & Godfrey LLC now owns 3,100 shares of the computer hardware maker’s stock worth $383,000 after purchasing an additional 2,740 shares during the period. Atlas Brown Inc. lifted its stake in shares of NVIDIA by 834.9% in the 2nd quarter. Atlas Brown Inc. now owns 163,012 shares of the computer hardware maker’s stock valued at $20,138,000 after purchasing an additional 145,576 shares in the last quarter. Scharf Investments LLC grew its holdings in shares of NVIDIA by 900.6% during the 2nd quarter. Scharf Investments LLC now owns 39,824 shares of the computer hardware maker’s stock worth $4,920,000 after purchasing an additional 35,844 shares during the period. Finally, Plimoth Trust Co. LLC increased its position in NVIDIA by 900.5% during the 2nd quarter. Plimoth Trust Co. LLC now owns 116,724 shares of the computer hardware maker’s stock worth $14,420,000 after purchasing an additional 105,057 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on NVDA. Mizuho lifted their price target on shares of NVIDIA from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Tigress Financial increased their price target on NVIDIA from $98.50 to $170.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on NVIDIA from $115.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Finally, Piper Sandler reissued an “overweight” rating and set a $140.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $116.91 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1-year low of $39.23 and a 1-year high of $140.76. The business’s fifty day moving average price is $117.74 and its two-hundred day moving average price is $105.37. The firm has a market capitalization of $2.88 trillion, a PE ratio of 68.37, a P/E/G ratio of 0.93 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same period in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. On average, research analysts expect that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 2.34%.

NVIDIA declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization authorizes the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the transaction, the insider now directly owns 503,878 shares of the company’s stock, valued at $64,582,043.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Colette Kress sold 100,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,288,862 shares of the company’s stock, valued at $671,632,585.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $128.17, for a total transaction of $576,765.00. Following the completion of the transaction, the insider now owns 503,878 shares in the company, valued at approximately $64,582,043.26. The disclosure for this sale can be found here. Insiders sold a total of 3,725,633 shares of company stock worth $451,910,522 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

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.