NVIDIA (NASDAQ:NVDA) Stock Price Down 0.5% After Insider Selling

NVIDIA Co. (NASDAQ:NVDA) traded down 0.5% during mid-day trading on Monday following insider selling activity. The company traded as low as $115.37 and last traded at $115.37. 62,691,625 shares traded hands during trading, a decline of 86% from the average session volume of 433,329,625 shares. The stock had previously closed at $116.00.

Specifically, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the completion of the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. Evercore ISI increased their price objective on shares of NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. New Street Research raised NVIDIA from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Tuesday, August 6th. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price objective on shares of NVIDIA in a research report on Thursday, August 29th. Citigroup boosted their target price on shares of NVIDIA from $126.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $100.00 price target on shares of NVIDIA in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.10.

NVIDIA Stock Down 0.5 %

The company’s 50 day simple moving average is $115.99 and its 200-day simple moving average is $107.24. The firm has a market capitalization of $2.84 trillion, a PE ratio of 67.47, a PEG ratio of 1.06 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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 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 analysts’ expectations of $28.74 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 2.64 EPS for the current fiscal year.

NVIDIA Cuts Dividend

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

NVIDIA announced that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Trading of NVIDIA

Hedge funds have recently made changes to their positions in the stock. BSN CAPITAL PARTNERS Ltd boosted its holdings in shares of NVIDIA by 51.4% in the 2nd quarter. BSN CAPITAL PARTNERS Ltd now owns 417,930 shares of the computer hardware maker’s stock worth $51,823,000 after purchasing an additional 141,930 shares in the last quarter. BLB&B Advisors LLC grew its position in NVIDIA by 843.8% during the second quarter. BLB&B Advisors LLC now owns 570,768 shares of the computer hardware maker’s stock valued at $70,513,000 after acquiring an additional 510,294 shares during the last quarter. Cypress Point Wealth Management LLC raised its stake in shares of NVIDIA by 772.8% during the second quarter. Cypress Point Wealth Management LLC now owns 5,979 shares of the computer hardware maker’s stock worth $739,000 after acquiring an additional 5,294 shares in the last quarter. McAdam LLC lifted its holdings in shares of NVIDIA by 945.0% in the 2nd quarter. McAdam LLC now owns 84,614 shares of the computer hardware maker’s stock worth $10,453,000 after acquiring an additional 76,517 shares during the last quarter. Finally, Perennial Advisors LLC boosted its stake in shares of NVIDIA by 910.9% in the 2nd quarter. Perennial Advisors LLC now owns 147,838 shares of the computer hardware maker’s stock valued at $18,264,000 after purchasing an additional 133,213 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

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.