NVIDIA (NASDAQ:NVDA) Shares Down 0.2% Following Insider Selling

NVIDIA Co. (NASDAQ:NVDA)’s stock price was down 0.2% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $122.70 and last traded at $123.25. Approximately 53,938,023 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 457,826,500 shares. The stock had previously closed at $123.54.

Specifically, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Ajay K. Puri sold 100,110 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $130.10, for a total value of $13,024,311.00. Following the completion of the sale, the executive vice president now owns 3,939,350 shares in the company, valued at $512,509,435. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the completion of the sale, the director now owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,600,723 shares of company stock worth $553,716,941. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NVDA shares. Wolfe Research upped their price target on shares of NVIDIA from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. UBS Group increased their target price on shares of NVIDIA from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Stifel Nicolaus increased their target price on shares of NVIDIA from $91.00 to $108.50 and gave the stock a “buy” rating in a research note on Monday, May 20th. Tigress Financial increased their target price on shares of NVIDIA from $98.50 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, TD Cowen increased their target price on shares of NVIDIA from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Six research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.59.

NVIDIA Price Performance

The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The company’s fifty day moving average is $119.86 and its two-hundred day moving average is $93.08. The stock has a market cap of $2.76 trillion, a price-to-earnings ratio of 67.14, a P/E/G ratio of 1.29 and a beta of 1.68.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. During the same quarter last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 262.1% on a year-over-year basis. As a group, research analysts predict that NVIDIA Co. will post 2.53 earnings per share for the current year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 11th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.36%. The ex-dividend date was Tuesday, June 11th. This is a boost from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is currently 2.34%.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hamilton Wealth LLC boosted its position in NVIDIA by 0.3% in the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after buying an additional 9 shares during the period. Brooklyn FI LLC boosted its position in NVIDIA by 2.5% in the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after buying an additional 12 shares during the period. Curran Financial Partners LLC boosted its position in NVIDIA by 1.8% in the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after buying an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC lifted its position in shares of NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after purchasing an additional 12 shares during the last quarter. Finally, M. Kraus & Co lifted its position in shares of NVIDIA by 2.0% during the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.