Cassaday & Co Wealth Management LLC Grows Holdings in NVIDIA Corporation $NVDA

Cassaday & Co Wealth Management LLC raised its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,926 shares of the computer hardware maker’s stock after purchasing an additional 4,024 shares during the quarter. NVIDIA accounts for approximately 0.6% of Cassaday & Co Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. Cassaday & Co Wealth Management LLC’s holdings in NVIDIA were worth $25,899,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NVDA. Lord & Richards Wealth Management LLC lifted its holdings in NVIDIA by 16.6% during the 2nd quarter. Lord & Richards Wealth Management LLC now owns 19,871 shares of the computer hardware maker’s stock valued at $3,139,000 after buying an additional 2,823 shares in the last quarter. Pointe Capital Management LLC increased its position in shares of NVIDIA by 3.4% during the second quarter. Pointe Capital Management LLC now owns 9,830 shares of the computer hardware maker’s stock worth $1,553,000 after acquiring an additional 321 shares during the period. J. W. Coons Advisors LLC raised its stake in shares of NVIDIA by 3.1% during the second quarter. J. W. Coons Advisors LLC now owns 26,945 shares of the computer hardware maker’s stock valued at $4,257,000 after acquiring an additional 805 shares in the last quarter. Elyxium Wealth LLC boosted its holdings in shares of NVIDIA by 11.6% in the second quarter. Elyxium Wealth LLC now owns 61,589 shares of the computer hardware maker’s stock valued at $9,730,000 after purchasing an additional 6,384 shares during the period. Finally, Magnolia Capital Advisors LLC grew its stake in NVIDIA by 15.9% in the second quarter. Magnolia Capital Advisors LLC now owns 26,629 shares of the computer hardware maker’s stock worth $4,207,000 after purchasing an additional 3,649 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

Shares of NVDA opened at $181.46 on Wednesday. The company has a 50 day moving average of $186.88 and a two-hundred day moving average of $171.35. The company has a quick ratio of 3.60, a current ratio of 4.21 and a debt-to-equity ratio of 0.08. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $212.19. The company has a market cap of $4.41 trillion, a price-to-earnings ratio of 51.70, a price-to-earnings-growth ratio of 1.49 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. The business had revenue of $57.01 billion for the quarter, compared to the consensus estimate of $54.66 billion. NVIDIA had a return on equity of 101.74% and a net margin of 52.41%.The business’s quarterly revenue was up 62.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 earnings per share. As a group, analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $208.33, for a total transaction of $4,166,600.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 626 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $179.42, for a total transaction of $112,316.92. Following the completion of the transaction, the director directly owned 17,792 shares of the company’s stock, valued at approximately $3,192,240.64. This represents a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,012,203 shares of company stock worth $542,065,894. Insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of NVIDIA in a research report on Thursday, November 20th. HSBC set a $320.00 price target on NVIDIA and gave the company a “buy” rating in a research note on Wednesday, October 15th. Melius Research upped their price objective on shares of NVIDIA from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. CICC Research raised their target price on shares of NVIDIA from $200.00 to $228.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Finally, Benchmark boosted their price target on shares of NVIDIA from $220.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $258.65.

NVIDIA Profile

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.