Insider Selling: NVIDIA Co. (NASDAQ:NVDA) Director Sells 125,000 Shares of Stock

by · The Markets Daily

NVIDIA Co. (NASDAQ:NVDA – Get Free Report) Director Mark A. Stevens sold 125,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total transaction of $15,326,250.00. Following the sale, the director now directly owns 8,255,117 shares of the company’s stock, valued at approximately $1,012,159,895.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NVIDIA Stock Performance

Shares of NVDA opened at $132.89 on Wednesday. The firm has a market capitalization of $3.27 trillion, a PE ratio of 77.71, a P/E/G ratio of 1.05 and a beta of 1.67. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $116.58 and a 200 day moving average price of $109.74. NVIDIA Co. has a 52-week low of $39.23 and a 52-week high of $140.76.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings data 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 business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business’s revenue for the quarter was up 122.4% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.65 earnings per share for the current fiscal year.

NVIDIA declared that its board has initiated a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

NVIDIA Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. HSBC upped their price objective on shares of NVIDIA from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. William Blair began coverage on NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating on the stock. Robert W. Baird upped their target price on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Tigress Financial raised their price target on shares of NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, UBS Group reaffirmed a “buy” rating and issued a $150.00 price target on shares of NVIDIA in a report on Tuesday. Five 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 stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $142.10.

Check Out Our Latest Report on NVIDIA

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Scholtz & Company LLC lifted its stake in NVIDIA by 94.2% during the fourth quarter. Scholtz & Company LLC now owns 14,656 shares of the computer hardware maker’s stock valued at $7,258,000 after purchasing an additional 7,108 shares during the last quarter. Personal CFO Solutions LLC lifted its position in shares of NVIDIA by 15.1% during the 4th quarter. Personal CFO Solutions LLC now owns 5,080 shares of the computer hardware maker’s stock valued at $2,516,000 after acquiring an additional 667 shares during the last quarter. Natixis Investment Managers International boosted its stake in shares of NVIDIA by 0.4% during the 4th quarter. Natixis Investment Managers International now owns 85,490 shares of the computer hardware maker’s stock worth $42,336,000 after acquiring an additional 377 shares in the last quarter. Ossiam boosted its stake in shares of NVIDIA by 271.4% during the 4th quarter. Ossiam now owns 162,106 shares of the computer hardware maker’s stock worth $80,278,000 after acquiring an additional 118,464 shares in the last quarter. Finally, Connectus Wealth LLC grew its holdings in shares of NVIDIA by 29.3% in the 4th quarter. Connectus Wealth LLC now owns 44,715 shares of the computer hardware maker’s stock worth $22,147,000 after acquiring an additional 10,139 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

About NVIDIA

(Get Free Report)

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.

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