Insider Selling: NVIDIA Co. (NASDAQ:NVDA) CFO Sells $7,787,887.80 in Stock

NVIDIA Co. (NASDAQ:NVDA) CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NVIDIA Trading Down 0.7 %

Shares of NVDA stock opened at $117.70 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The stock has a market capitalization of $2.87 trillion, a P/E ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a 50 day moving average price of $126.92 and a 200 day moving average price of $131.36.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. Equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.36%.

Analyst Ratings Changes

Several analysts have issued reports on the company. HSBC dropped their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a research note on Wednesday. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. DA Davidson cut their price objective on NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, William Blair reissued an “outperform” rating on shares of NVIDIA in a report on Thursday. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at about $43,515,504,000. International Assets Investment Management LLC raised its holdings in NVIDIA by 12,898.6% in the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after buying an additional 55,859,917 shares during the period. Clear Street Derivatives LLC purchased a new position in NVIDIA in the third quarter valued at approximately $4,589,905,000. Northern Trust Corp raised its stake in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

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.