Cassaday & Co Wealth Management LLC Buys 7,738 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cassaday & Co Wealth Management LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.1% during the third quarter, HoldingsChannel reports. The fund owned 158,904 shares of the computer hardware maker’s stock after buying an additional 7,738 shares during the period. NVIDIA comprises approximately 0.5% of Cassaday & Co Wealth Management LLC’s holdings, making the stock its 18th largest position. Cassaday & Co Wealth Management LLC’s holdings in NVIDIA were worth $19,297,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Lantz Financial LLC boosted its position in shares of NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after buying an additional 36,774 shares during the last quarter. Demars Financial Group LLC boosted its holdings in shares of NVIDIA by 923.6% during the 2nd quarter. Demars Financial Group LLC now owns 42,663 shares of the computer hardware maker’s stock valued at $5,271,000 after acquiring an additional 38,495 shares during the last quarter. Financial Partners Group Inc raised its holdings in shares of NVIDIA by 1,051.0% during the second quarter. Financial Partners Group Inc now owns 38,524 shares of the computer hardware maker’s stock valued at $4,759,000 after purchasing an additional 35,177 shares during the last quarter. Integris Wealth Management LLC lifted its position in NVIDIA by 898.7% during the second quarter. Integris Wealth Management LLC now owns 3,056 shares of the computer hardware maker’s stock valued at $378,000 after purchasing an additional 2,750 shares during the period. Finally, Clay Northam Wealth Management LLC boosted its holdings in NVIDIA by 905.3% in the second quarter. Clay Northam Wealth Management LLC now owns 28,218 shares of the computer hardware maker’s stock worth $3,486,000 after purchasing an additional 25,411 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 155,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,226,886 shares of company stock worth $161,499,400 in the last three months. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Raymond James lifted their price objective on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group upped their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Piper Sandler raised their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Monday, November 18th. Finally, Needham & Company LLC increased their target price on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.15.

NVIDIA Price Performance

NVIDIA stock opened at $144.47 on Friday. The stock has a market cap of $3.54 trillion, a price-to-earnings ratio of 56.86, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The firm has a 50-day moving average of $139.51 and a two-hundred day moving average of $128.16. NVIDIA Co. has a 1 year low of $47.51 and a 1 year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. On average, research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

NVIDIA Company 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.