Mark A. Stevens Sells 155,000 Shares of NVIDIA Co. (NASDAQ:NVDA) Stock

NVIDIA Co. (NASDAQ:NVDA) Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now directly owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $134.80 on Friday. NVIDIA Co. has a one year low of $39.23 and a one year high of $140.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27. The company’s fifty day moving average is $118.54 and its two-hundred day moving average is $110.74. The firm has a market capitalization of $3.31 trillion, a P/E ratio of 63.23, a PEG ratio of 1.20 and a beta of 1.67.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 122.4% compared to the same quarter last year. Analysts forecast that NVIDIA Co. will post 2.65 EPS for the current fiscal year.

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

NVIDIA Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.88%.

Institutional Investors Weigh In On NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the business. Concentric Wealth Management LLC purchased a new position in NVIDIA in the 4th quarter valued at about $220,000. Chilton Investment Co. Inc. lifted its holdings in NVIDIA by 53.3% in the 4th quarter. Chilton Investment Co. Inc. now owns 964 shares of the computer hardware maker’s stock valued at $477,000 after purchasing an additional 335 shares in the last quarter. Brevan Howard Capital Management LP lifted its holdings in NVIDIA by 640.5% in the 4th quarter. Brevan Howard Capital Management LP now owns 22,185 shares of the computer hardware maker’s stock valued at $10,986,000 after purchasing an additional 19,189 shares in the last quarter. Biltmore Family Office LLC lifted its holdings in NVIDIA by 3.1% in the 4th quarter. Biltmore Family Office LLC now owns 2,704 shares of the computer hardware maker’s stock valued at $1,339,000 after purchasing an additional 82 shares in the last quarter. Finally, Barden Capital Management Inc. increased its stake in shares of NVIDIA by 11.7% during the 4th quarter. Barden Capital Management Inc. now owns 8,226 shares of the computer hardware maker’s stock valued at $4,074,000 after acquiring an additional 862 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVDA. DA Davidson reiterated a “neutral” rating and issued a $90.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Evercore ISI lifted 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. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Monday, August 26th. Finally, Bank of America reiterated a “buy” rating and issued a $165.00 price target on shares of NVIDIA in a research note on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.46.

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.