NVIDIA Co. (NASDAQ:NVDA) Insider Sells $524,295.00 in Stock

NVIDIA Co. (NASDAQ:NVDA) insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now owns 492,409 shares in the company, valued at approximately $57,370,572.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

NVIDIA Trading Down 1.6 %

Shares of NASDAQ:NVDA traded down $1.87 during midday trading on Friday, reaching $116.00. The company’s stock had a trading volume of 382,064,703 shares, compared to its average volume of 435,355,719. The firm has a market cap of $2.85 trillion, a price-to-earnings ratio of 67.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.67. The business has a 50 day moving average price of $115.99 and a 200 day moving average price of $106.97. NVIDIA Co. has a 1 year low of $39.23 and a 1 year high of $140.76. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $28.74 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm’s revenue was up 122.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. Research analysts forecast that NVIDIA Co. will post 2.64 EPS for the current year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the company. Aveo Capital Partners LLC raised its holdings in shares of NVIDIA by 30.5% in the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock worth $1,164,000 after purchasing an additional 549 shares during the period. Gryphon Financial Partners LLC grew its holdings in shares of NVIDIA by 60.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,514 shares of the computer hardware maker’s stock worth $7,188,000 after purchasing an additional 5,496 shares during the period. Quadrant Capital Group LLC increased its position in NVIDIA by 8.1% during the 4th quarter. Quadrant Capital Group LLC now owns 24,671 shares of the computer hardware maker’s stock worth $12,218,000 after purchasing an additional 1,855 shares in the last quarter. Fairhaven Wealth Management LLC raised its holdings in NVIDIA by 21.8% in the fourth quarter. Fairhaven Wealth Management LLC now owns 1,613 shares of the computer hardware maker’s stock valued at $799,000 after buying an additional 289 shares during the period. Finally, Laffer Tengler Investments Inc. grew its stake in NVIDIA by 2.2% during the fourth quarter. Laffer Tengler Investments Inc. now owns 1,552 shares of the computer hardware maker’s stock worth $769,000 after buying an additional 34 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NVDA. Craig Hallum lifted their target price on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Melius Research lifted their target price on NVIDIA from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Wells Fargo & Company lifted their target price on NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Raymond James lifted their target price on NVIDIA from $120.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Sanford C. Bernstein lifted their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.10.

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.