Insider Selling: NVIDIA Co. (NASDAQ:NVDA) CFO Sells 100,000 Shares of Stock

NVIDIA Co. (NASDAQ:NVDA) CFO Colette Kress sold 100,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.85, for a total transaction of $12,085,000.00. Following the sale, the chief financial officer now directly owns 5,188,862 shares of the company’s stock, valued at approximately $627,073,972.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Colette Kress also recently made the following trade(s):

• On Friday, June 21st, Colette Kress sold 100,000 shares of NVIDIA stock. The shares were sold at an average price of $126.99, for a total transaction of $12,699,000.00.

NVIDIA Trading Up 0.3 %

Shares of NVDA traded up $0.38 during mid-day trading on Wednesday, reaching $126.47. 324,803,938 shares of the company were exchanged, compared to its average volume of 487,637,156. The business has a 50 day simple moving average of $103.66 and a two-hundred day simple moving average of $82.10. NVIDIA Co. has a 52 week low of $39.23 and a 52 week high of $140.76. The stock has a market capitalization of $3.11 trillion, a PE ratio of 73.96, a PEG ratio of 1.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s quarterly revenue was up 262.1% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. On average, analysts predict that NVIDIA Co. will post 2.52 earnings per share for the current fiscal year.

NVIDIA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. NVIDIA’s payout ratio is 2.34%.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sensible Money LLC raised its position in NVIDIA by 41.6% during the 1st quarter. Sensible Money LLC now owns 596 shares of the computer hardware maker’s stock valued at $538,000 after purchasing an additional 175 shares during the last quarter. HM Payson & Co. boosted its stake in NVIDIA by 97.1% during the 1st quarter. HM Payson & Co. now owns 152,416 shares of the computer hardware maker’s stock valued at $137,717,000 after purchasing an additional 75,086 shares during the last quarter. Keynote Financial Services LLC bought a new position in shares of NVIDIA during the 1st quarter valued at $262,000. Jackson Wealth Management LLC bought a new stake in NVIDIA during the first quarter valued at about $3,023,000. Finally, OMC Financial Services LTD purchased a new position in shares of NVIDIA during the first quarter valued at about $25,395,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on NVDA shares. The Goldman Sachs Group boosted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Benchmark boosted their target price on shares of NVIDIA from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Needham & Company LLC boosted their target price on shares of NVIDIA from $85.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Jefferies Financial Group boosted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wolfe Research upped their target price on shares of NVIDIA from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Five investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $123.53.

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.