Cassaday & Co Wealth Management LLC Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Cassaday & Co Wealth Management LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 160,639 shares of the computer hardware maker’s stock after acquiring an additional 1,735 shares during the period. NVIDIA makes up about 0.6% of Cassaday & Co Wealth Management LLC’s portfolio, making the stock its 18th largest holding. Cassaday & Co Wealth Management LLC’s holdings in NVIDIA were worth $21,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $34,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the 4th quarter valued at about $40,000. DHJJ Financial Advisors Ltd. boosted its holdings in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the 4th quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. raised its holdings in shares of NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after acquiring an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $113.76 on Thursday. The company has a market cap of $2.78 trillion, a P/E ratio of 44.77, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average price is $126.01 and its 200 day moving average price is $131.46.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVDA. HSBC lowered their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. DA Davidson reduced their target price on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Susquehanna restated a “positive” rating and set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

Insider Activity

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 183,609 shares of company stock worth $22,642,615. 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.