Cassaday & Co Wealth Management LLC Buys 4,024 Shares of NVIDIA Corporation $NVDA

Cassaday & Co Wealth Management LLC raised its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 163,926 shares of the computer hardware maker’s stock after purchasing an additional 4,024 shares during the period. NVIDIA accounts for about 0.6% of Cassaday & Co Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. Cassaday & Co Wealth Management LLC’s holdings in NVIDIA were worth $25,899,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Kingstone Capital Partners Texas LLC lifted its holdings in NVIDIA by 267,959.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock valued at $64,976,521,000 after purchasing an additional 382,231,120 shares in the last quarter. Nuveen LLC bought a new stake in shares of NVIDIA during the 1st quarter valued at $15,089,414,000. Goldman Sachs Group Inc. lifted its stake in shares of NVIDIA by 123.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock valued at $20,374,921,000 after buying an additional 103,889,872 shares in the last quarter. Amundi lifted its stake in shares of NVIDIA by 16.0% during the 1st quarter. Amundi now owns 135,770,043 shares of the computer hardware maker’s stock valued at $13,826,199,000 after buying an additional 18,733,431 shares in the last quarter. Finally, Strs Ohio purchased a new stake in NVIDIA in the 1st quarter worth $1,163,288,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NVDA shares. Rosenblatt Securities boosted their price objective on NVIDIA from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Seaport Global Securities boosted their price target on NVIDIA from $100.00 to $140.00 and gave the stock a “sell” rating in a report on Monday, November 17th. Mizuho increased their price objective on shares of NVIDIA from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. DA Davidson reiterated a “buy” rating and set a $250.00 price objective on shares of NVIDIA in a research report on Thursday, November 20th. Finally, Argus restated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research report on Thursday, November 20th. Five analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Buy” and an average target price of $258.65.

NVIDIA Trading Up 0.9%

NVDA stock opened at $181.46 on Wednesday. The firm has a fifty day moving average price of $186.88 and a 200 day moving average price of $171.35. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $212.19. The firm has a market cap of $4.41 trillion, a PE ratio of 51.70, a price-to-earnings-growth ratio of 1.49 and a beta of 2.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.60 and a current ratio of 4.21.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, beating the consensus estimate of $1.23 by $0.07. NVIDIA had a net margin of 52.41% and a return on equity of 101.74%. The business had revenue of $57.01 billion during the quarter, compared to analyst estimates of $54.66 billion. During the same quarter last year, the business earned $0.81 earnings per share. NVIDIA’s quarterly revenue was up 62.5% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Colette Kress sold 20,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $208.33, for a total transaction of $4,166,600.00. Following the sale, the chief financial officer owned 123,060 shares in the company, valued at approximately $25,637,089.80. This represents a 13.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 25,000 shares of NVIDIA stock in a transaction 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 transaction, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,012,203 shares of company stock valued at $542,065,894 over the last ninety days. 4.17% of the stock is owned by 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.