Insider Selling: NVIDIA Co. (NASDAQ:NVDA) CEO Sells $12,639,600.00 in Stock

NVIDIA Co. (NASDAQ:NVDA) CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the completion of the sale, the chief executive officer now owns 75,895,836 shares in the company, valued at approximately $7,994,108,405.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, September 11th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $111.83, for a total transaction of $13,419,600.00.
• On Thursday, September 5th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $107.44, for a total transaction of $12,892,800.00.
• On Tuesday, September 3rd, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $110.76, for a total transaction of $13,291,200.00.
• On Friday, August 30th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $119.03, for a total transaction of $14,283,600.00.
• On Friday, August 9th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $104.83, for a total transaction of $12,579,600.00.
• On Wednesday, August 7th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $103.85, for a total transaction of $12,462,000.00.
• On Monday, August 5th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The stock was sold at an average price of $99.81, for a total transaction of $11,977,200.00.
• On Thursday, August 1st, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $113.04, for a total transaction of $13,564,800.00.
• On Friday, July 26th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $113.54, for a total transaction of $13,624,800.00.
• On Wednesday, July 24th, Jen Hsun Huang sold 120,000 shares of NVIDIA stock. The shares were sold at an average price of $117.24, for a total transaction of $14,068,800.00.

NVIDIA Price Performance

Shares of NVDA stock opened at $119.14 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79. The company has a market capitalization of $2.93 trillion, a P/E ratio of 69.67, a P/E/G ratio of 0.93 and a beta of 1.67. The company’s 50-day simple moving average is $117.55 and its two-hundred day simple moving average is $105.46. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $30.04 billion for the quarter, compared to the consensus estimate of $28.74 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue for the quarter was up 122.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. As a group, equities analysts anticipate that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that allows the company to repurchase $50.00 billion in shares. This repurchase authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

NVIDIA Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be given a $0.01 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 2.34%.

Institutional Investors Weigh In On NVIDIA

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America restated a “buy” rating and set a $165.00 target price on shares of NVIDIA in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $100.00 target price on shares of NVIDIA in a research note on Monday, August 5th. Morgan Stanley boosted their price target on shares of NVIDIA from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Susquehanna boosted their price target on shares of NVIDIA from $120.00 to $145.00 and gave the stock a “positive” rating in a research note on Monday, June 10th. Finally, Evercore ISI boosted their price target on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.10.

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.