Insider Selling: NVIDIA Co. (NASDAQ:NVDA) CEO Sells 120,000 Shares of Stock

NVIDIA Co. (NASDAQ:NVDA) CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $128.74, for a total transaction of $15,448,800.00. Following the completion of the sale, the chief executive officer now owns 81,358,830 shares of the company’s stock, valued at $10,474,135,774.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $135.58 on Wednesday. The firm has a market cap of $3.34 trillion, a PE ratio of 79.29, a PEG ratio of 1.39 and a beta of 1.69. The firm has a fifty day moving average of $99.71 and a 200 day moving average of $79.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53. NVIDIA Co. has a one year low of $39.23 and a one year high of $136.33.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The business had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 262.1% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Co. will post 2.52 EPS for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be issued a dividend of $0.10 per share. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.30%. NVIDIA’s dividend payout ratio is presently 2.34%.

Institutional Investors Weigh In On NVIDIA

A number of large investors have recently modified their holdings of NVDA. WealthPlan Investment Management LLC grew its holdings in shares of NVIDIA by 1,334.3% during the third quarter. WealthPlan Investment Management LLC now owns 6,942 shares of the computer hardware maker’s stock worth $3,020,000 after buying an additional 6,458 shares in the last quarter. Innovis Asset Management LLC grew its holdings in shares of NVIDIA by 1.3% in the third quarter. Innovis Asset Management LLC now owns 23,882 shares of the computer hardware maker’s stock valued at $10,386,000 after purchasing an additional 309 shares during the period. Wescott Financial Advisory Group LLC grew its holdings in shares of NVIDIA by 2.1% in the third quarter. Wescott Financial Advisory Group LLC now owns 1,200 shares of the computer hardware maker’s stock valued at $522,000 after purchasing an additional 25 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in shares of NVIDIA by 24,933.2% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 164,468 shares of the computer hardware maker’s stock valued at $71,542,000 after purchasing an additional 163,811 shares during the period. Finally, BIP Wealth LLC grew its holdings in shares of NVIDIA by 17.6% in the third quarter. BIP Wealth LLC now owns 1,582 shares of the computer hardware maker’s stock valued at $689,000 after purchasing an additional 237 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NVDA shares. Wells Fargo & Company lifted their target price on shares of NVIDIA from $125.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wedbush lifted their target price on shares of NVIDIA from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Tigress Financial lifted their target price on shares of NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James lifted their target price on shares of NVIDIA from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 23rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $110.00 target price on shares of NVIDIA in a research note on Thursday, May 23rd. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.84.

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.