Cascade Financial Partners LLC Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Cascade Financial Partners LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 925.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,993 shares of the computer hardware maker’s stock after buying an additional 78,506 shares during the period. NVIDIA comprises approximately 1.4% of Cascade Financial Partners LLC’s holdings, making the stock its 10th largest holding. Cascade Financial Partners LLC’s holdings in NVIDIA were worth $10,747,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the 2nd quarter valued at about $25,000. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock worth $25,000 after purchasing an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA in the 1st quarter valued at approximately $26,000. CGC Financial Services LLC acquired a new position in shares of NVIDIA in the second quarter valued at approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA in the 1st quarter valued at about $27,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Westpark Capital boosted their price target on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Wells Fargo & Company increased their price objective on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. HSBC boosted their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Five equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Down 2.1 %

NASDAQ NVDA opened at $121.40 on Monday. The business’s 50-day moving average is $115.88 and its 200 day moving average is $108.35. The stock has a market capitalization of $2.99 trillion, a PE ratio of 70.99, a PEG ratio of 1.05 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. Sell-side analysts forecast that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, September 12th. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

NVIDIA declared that its board has approved a stock buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $99.81, for a total transaction of $11,977,200.00. Following the sale, the chief executive officer now directly owns 77,094,995 shares in the company, valued at approximately $7,694,851,450.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,277,403 shares of company stock valued at $512,029,184. 4.23% 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.