NVIDIA (NASDAQ:NVDA) Trading Down 1.5% on Insider Selling

NVIDIA Co. (NASDAQ:NVDA) shares fell 1.5% during trading on Thursday after an insider sold shares in the company. The company traded as low as $123.75 and last traded at $124.50. 78,850,609 shares were traded during mid-day trading, a decline of 84% from the average session volume of 484,624,031 shares. The stock had previously closed at $126.40.

Specifically, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.84, for a total transaction of $14,500,800.00. Following the completion of the sale, the chief executive officer now owns 80,574,995 shares of the company’s stock, valued at approximately $9,736,682,395.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, CFO Colette Kress sold 100,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.85, for a total value of $12,085,000.00. Following the completion of the sale, the chief financial officer now owns 5,188,862 shares of the company’s stock, valued at $627,073,972.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $120.84, for a total transaction of $14,500,800.00. Following the completion of the sale, the chief executive officer now directly owns 80,574,995 shares of the company’s stock, valued at approximately $9,736,682,395.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,746,590 shares of company stock valued at $309,332,104. 4.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Truist Financial reiterated a “buy” rating and set a $140.00 target price (up from $128.80) on shares of NVIDIA in a research note on Thursday. HSBC increased their target price on NVIDIA from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Rosenblatt Securities raised their price objective on NVIDIA from $140.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Argus raised their price objective on NVIDIA from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Finally, Robert W. Baird raised their price objective on NVIDIA from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th. Five investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $123.80.

NVIDIA Trading Down 1.9 %

The business has a fifty day moving average of $104.51 and a 200-day moving average of $82.41. The stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 72.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14.

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. The firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s revenue was up 262.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. On average, equities analysts anticipate that NVIDIA Co. will post 2.52 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a $0.10 dividend. 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 0.32%. NVIDIA’s dividend payout ratio (DPR) is 2.34%.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft boosted its position in shares of NVIDIA by 34.9% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after purchasing an additional 11,445 shares during the period. Wealthspire Advisors LLC boosted its position in shares of NVIDIA by 16.3% in the 4th quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock valued at $6,080,000 after purchasing an additional 1,724 shares during the period. Shared Vision Wealth Group LLC acquired a new position in shares of NVIDIA in the 4th quarter valued at $269,000. Grand Alliance Asset Management Ltd acquired a new stake in NVIDIA during the 4th quarter worth about $29,961,000. Finally, OMNI 360 Wealth Inc. acquired a new stake in NVIDIA during the 4th quarter worth about $240,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.