NVIDIA Corporation $NVDA is Palumbo Wealth Management LLC's 9th Largest Position

Key Points

• Palumbo Wealth Management LLC increased its investment in NVIDIA Corporation by 18.6% during Q2, now holding 49,300 shares, valued at approximately $7.79 million, making it the firm's 9th largest position.
• NVIDIA reported a strong quarterly earnings result with $1.05 EPS and $46.74 billion in revenue, exceeding analysts' expectations; revenue grew 55.6% year-over-year.
• The company announced a quarterly dividend of $0.01 per share, reflecting a 0.0% yield and a low payout ratio of 1.14%.

Palumbo Wealth Management LLC lifted its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 18.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,300 shares of the computer hardware maker's stock after buying an additional 7,736 shares during the quarter. NVIDIA makes up 2.4% of Palumbo Wealth Management LLC's holdings, making the stock its 9th largest holding. Palumbo Wealth Management LLC's holdings in NVIDIA were worth $7,789,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Kathleen S. Wright Associates Inc. raised its position in shares of NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after purchasing an additional 254 shares during the last quarter. Westend Capital Management LLC boosted its holdings in NVIDIA by 46.8% in the second quarter. Westend Capital Management LLC now owns 455 shares of the computer hardware maker's stock valued at $72,000 after purchasing an additional 145 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA in the first quarter worth about $51,000. Bruce G. Allen Investments LLC grew its stake in shares of NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after purchasing an additional 327 shares during the period. Finally, Campbell Capital Management Inc. grew its position in NVIDIA by 5,900.0% during the first quarter. Campbell Capital Management Inc. now owns 600 shares of the computer hardware maker's stock valued at $65,000 after buying an additional 590 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $187.62 on Monday. The company has a current ratio of 4.21, a quick ratio of 3.60 and a debt-to-equity ratio of 0.08. The company's 50-day moving average price is $178.11 and its 200 day moving average price is $148.57. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $191.05. The stock has a market cap of $4.56 trillion, a price-to-earnings ratio of 53.45, a PEG ratio of 1.36 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. The company had revenue of $46.74 billion during the quarter, compared to analysts' expectations of $45.65 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The business's revenue for the quarter was up 55.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. NVIDIA has set its Q3 2026 guidance at EPS. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA's payout ratio is currently 1.14%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVDA. Needham & Company LLC restated a "buy" rating and set a $200.00 price objective on shares of NVIDIA in a research report on Thursday, August 28th. Wedbush reaffirmed an "outperform" rating and issued a $210.00 target price on shares of NVIDIA in a research note on Thursday, August 28th. TD Cowen lifted their price target on shares of NVIDIA from $140.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, August 19th. Stifel Nicolaus increased their target price on shares of NVIDIA from $202.00 to $212.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Finally, Craig Hallum lifted their price objective on NVIDIA from $195.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $211.00.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 30,500 shares of NVIDIA stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $176.40, for a total value of $5,380,200.00. Following the transaction, the chief financial officer directly owned 2,883,402 shares of the company's stock, valued at $508,632,112.80. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Persis Drell sold 40,000 shares of the business's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $177.65, for a total value of $7,106,000.00. Following the sale, the director owned 138,740 shares of the company's stock, valued at $24,647,161. The trade was a 22.38% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,971,893 shares of company stock valued at $694,502,352. 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.

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