Cadence Wealth Management LLC Purchases 156 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cadence Wealth Management LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,473 shares of the computer hardware maker’s stock after acquiring an additional 156 shares during the quarter. NVIDIA makes up approximately 0.4% of Cadence Wealth Management LLC’s portfolio, making the stock its 23rd largest position. Cadence Wealth Management LLC’s holdings in NVIDIA were worth $601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Tacita Capital Inc acquired a new position in NVIDIA in the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter worth $34,000. Vision Financial Markets LLC acquired a new stake in NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the 4th quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC bought a new stake in NVIDIA in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In related news, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on 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 trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 over the last quarter. 4.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group decreased their price objective on NVIDIA from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. DA Davidson dropped their price objective on NVIDIA from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Wedbush restated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Susquehanna reaffirmed a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.51.

NVIDIA Stock Down 4.5 %

Shares of NASDAQ NVDA opened at $96.91 on Tuesday. The firm has a 50 day moving average price of $115.87 and a 200 day moving average price of $129.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $2.36 trillion, a P/E ratio of 38.14, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 52-week low of $76.40 and a 52-week high of $195.95.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

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.