NVIDIA (NASDAQ:NVDA) Shares Down 1.3% After Insider Selling

NVIDIA Co. (NASDAQ:NVDA)’s stock price traded down 1.3% during trading on Monday following insider selling activity. The company traded as low as $118.83 and last traded at $121.98. 106,922,492 shares traded hands during trading, a decline of 78% from the average session volume of 481,639,313 shares. The stock had previously closed at $123.54.

Specifically, CEO Jen Hsun Huang sold 120,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $124.88, for a total value of $14,985,600.00. Following the completion of the sale, the chief executive officer now directly owns 80,334,995 shares in the company, valued at approximately $10,032,234,175.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the sale, the director now owns 2,967,136 shares of the company’s stock, valued at $3,544,451,651.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $124.88, for a total value of $14,985,600.00. Following the completion of the transaction, the chief executive officer now owns 80,334,995 shares of the company’s stock, valued at $10,032,234,175.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,866,590 shares of company stock valued at $324,317,704. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stifel Nicolaus boosted their target price on NVIDIA from $91.00 to $108.50 and gave the stock a “buy” rating in a research report on Monday, May 20th. Wells Fargo & Company increased their price target on NVIDIA from $125.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. KeyCorp upped their price objective on NVIDIA from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Rosenblatt Securities increased their price target on NVIDIA from $140.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Bank of America increased their price target on shares of NVIDIA from $132.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.34.

NVIDIA Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 3.14. The firm’s 50 day moving average is $106.24 and its 200 day moving average is $83.73. The company has a market capitalization of $3.00 trillion, a PE ratio of 71.33, a P/E/G ratio of 1.30 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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. The business had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm’s revenue for the quarter was up 262.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 earnings per share. As a group, equities analysts predict that NVIDIA Co. will post 2.53 EPS for the current year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 11th were issued a $0.10 dividend. The ex-dividend date was Tuesday, June 11th. This represents a $0.40 annualized dividend and a yield of 0.33%. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s payout ratio is 2.34%.

Institutional Trading of NVIDIA

A number of hedge funds have recently modified their holdings of the business. NCM Capital Management LLC lifted its stake in NVIDIA by 8.1% during the 3rd quarter. NCM Capital Management LLC now owns 12,994 shares of the computer hardware maker’s stock valued at $5,652,000 after acquiring an additional 969 shares during the period. United Services Automobile Association lifted its position in NVIDIA by 16.8% in the third quarter. United Services Automobile Association now owns 66,627 shares of the computer hardware maker’s stock worth $28,982,000 after buying an additional 9,576 shares during the last quarter. First Business Financial Services Inc. lifted its position in NVIDIA by 4.8% in the third quarter. First Business Financial Services Inc. now owns 4,090 shares of the computer hardware maker’s stock worth $1,779,000 after buying an additional 189 shares during the last quarter. BOS Asset Management LLC lifted its position in NVIDIA by 3.1% in the third quarter. BOS Asset Management LLC now owns 4,675 shares of the computer hardware maker’s stock worth $2,034,000 after buying an additional 142 shares during the last quarter. Finally, Page Arthur B lifted its position in NVIDIA by 5.2% in the third quarter. Page Arthur B now owns 4,565 shares of the computer hardware maker’s stock worth $1,986,000 after buying an additional 224 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

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.