NVIDIA Co. (NASDAQ:NVDA) Director Sells $4,840,400.00 in Stock

NVIDIA Co. (NASDAQ:NVDA) Director Mark A. Stevens sold 40,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $121.01, for a total transaction of $4,840,400.00. Following the sale, the director now owns 8,380,117 shares in the company, valued at approximately $1,014,077,958.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

NVIDIA Stock Down 3.7 %

NVDA traded down $4.44 during trading on Tuesday, reaching $117.00. The stock had a trading volume of 300,168,630 shares, compared to its average volume of 429,538,156. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $115.83 and its two-hundred day moving average is $108.59. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a market capitalization of $2.88 trillion, a price-to-earnings ratio of 69.20, a P/E/G ratio of 1.05 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same period in the previous year, the company posted $0.25 EPS. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. As a group, analysts expect that NVIDIA Co. will post 2.65 earnings per share for the current year.

NVIDIA declared that its board has approved a share repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

NVIDIA Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Aveo Capital Partners LLC raised its stake in NVIDIA by 30.5% in the 4th quarter. Aveo Capital Partners LLC now owns 2,351 shares of the computer hardware maker’s stock valued at $1,164,000 after purchasing an additional 549 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in 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. Rice Partnership LLC raised its holdings in NVIDIA by 8.4% in the fourth quarter. Rice Partnership LLC now owns 20,885 shares of the computer hardware maker’s stock valued at $10,343,000 after acquiring an additional 1,624 shares in the last quarter. Alpha DNA Investment Management LLC raised its stake in NVIDIA by 77.0% in the fourth quarter. Alpha DNA Investment Management LLC now owns 3,014 shares of the computer hardware maker’s stock valued at $1,493,000 after buying an additional 1,311 shares in the last quarter. Finally, BlueSky Wealth Advisors LLC lifted its stake in NVIDIA by 1.8% during the fourth quarter. BlueSky Wealth Advisors LLC now owns 5,392 shares of the computer hardware maker’s stock worth $2,670,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several recent research reports. Jefferies Financial Group boosted their price objective on NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 target price on shares of NVIDIA in a research report on Monday, August 5th. DA Davidson reissued a “neutral” rating and issued a $90.00 target price on shares of NVIDIA in a research note on Thursday, August 29th. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Monday, August 26th. Finally, New Street Research raised shares of NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target 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.