Jen Hsun Huang Sells 120,000 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

NVIDIA Co. (NASDAQ:NVDA) CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.84, for a total value of $14,500,800.00. Following the completion of the transaction, the chief executive officer now owns 80,574,995 shares in the company, valued at approximately $9,736,682,395.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Jen Hsun Huang also recently made the following trade(s):

• On Thursday, June 20th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $135.87, for a total transaction of $16,304,400.00.
• On Thursday, June 13th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $128.74, for a total value of $15,448,800.00.

NVIDIA Price Performance

Shares of NVDA stock opened at $123.99 on Friday. NVIDIA Co. has a twelve month low of $39.23 and a twelve month high of $140.76. The company has a market capitalization of $3.05 trillion, a PE ratio of 72.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.70. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $104.51 and a 200-day simple moving average of $82.41.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. During the same period last year, the firm earned $0.09 earnings per share. The company’s revenue was up 262.1% on a year-over-year basis. Equities research analysts anticipate that NVIDIA Co. will post 2.52 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. 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. NVIDIA’s dividend payout ratio is presently 2.34%.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the 1st quarter valued at about $26,000. Koesten Hirschmann & Crabtree INC. bought a new position in NVIDIA during the 1st quarter worth approximately $27,000. LFA Lugano Financial Advisors SA acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $28,000. Criterion Capital Advisors LLC bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $28,000. Finally, HBC Financial Services PLLC acquired a new stake in shares of NVIDIA during the 1st quarter valued at approximately $30,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, June 10th. Morgan Stanley reiterated an “overweight” rating on shares of NVIDIA in a research report on Monday, June 10th. CICC Research began coverage on NVIDIA in a report on Wednesday, March 6th. They issued an “outperform” rating and a $87.00 price target on the stock. Bank of America lifted their price objective on NVIDIA from $132.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Finally, Rosenblatt Securities upped their target price on NVIDIA from $140.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Five investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.80.

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.